Carl P. Sherr & Co. LLC Has $1.51 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Carl P. Sherr & Co. LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 27.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,699 shares of the coffee company’s stock after selling 6,049 shares during the quarter. Starbucks comprises approximately 0.9% of Carl P. Sherr & Co. LLC’s holdings, making the stock its 26th largest position. Carl P. Sherr & Co. LLC’s holdings in Starbucks were worth $1,507,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quilter Plc acquired a new stake in shares of Starbucks in the first quarter worth $208,530,000. Freedom Wealth Alliance LLC bought a new stake in Starbucks in the 4th quarter valued at $26,000. Riggs Asset Managment Co. Inc. grew its position in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Atticus Wealth Management LLC increased its holdings in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Finally, First Capital Advisors Group LLC. acquired a new position in shares of Starbucks during the second quarter valued at about $35,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the company. Barclays reduced their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Citigroup decreased their price target on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Jefferies Financial Group reduced their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Stifel Nicolaus lowered their target price on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $107.43.

Starbucks Trading Up 0.2 %

Shares of SBUX stock traded up $0.17 on Wednesday, reaching $85.59. The company had a trading volume of 1,294,873 shares, compared to its average volume of 8,293,308. The stock has a market cap of $96.90 billion, a PE ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. The company has a 50-day moving average of $91.51 and a 200-day moving average of $94.53. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 4.04 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 4,000 shares of company stock worth $375,665 in the last 90 days. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.