Starbucks Co. (NASDAQ:SBUX) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. decreased its position in Starbucks Co. (NASDAQ:SBUX) by 1.4% in the 4th quarter, Holdings Channel reports. The fund owned 117,861 shares of the coffee company’s stock after selling 1,684 shares during the period. Starbucks accounts for 1.2% of Weatherly Asset Management L. P.’s holdings, making the stock its 22nd biggest holding. Weatherly Asset Management L. P.’s holdings in Starbucks were worth $11,316,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. grew its position in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Atticus Wealth Management LLC grew its position in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in Starbucks in the fourth quarter valued at approximately $38,000. Financial Connections Group Inc. acquired a new stake in Starbucks in the fourth quarter valued at approximately $38,000. Finally, Fortitude Family Office LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SBUX shares. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Stephens reissued an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, January 16th. Barclays reduced their price target on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Finally, BMO Capital Markets reduced their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $106.68.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have sold 7,000 shares of company stock worth $629,738 in the last 90 days. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX traded down $0.31 on Tuesday, reaching $87.87. The company’s stock had a trading volume of 5,662,674 shares, compared to its average volume of 8,423,798. The firm’s 50 day moving average is $90.80 and its two-hundred day moving average is $94.42. The stock has a market cap of $99.49 billion, a PE ratio of 23.53, a PEG ratio of 1.42 and a beta of 0.98. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its 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 business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. Equities research analysts anticipate that Starbucks Co. will post 4.01 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.59%. Starbucks’s dividend payout ratio is 60.96%.

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.