1900 Wealth Management LLC Sells 640 Shares of Starbucks Co. (NASDAQ:SBUX)

1900 Wealth Management LLC decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 22.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,256 shares of the coffee company’s stock after selling 640 shares during the quarter. 1900 Wealth Management LLC’s holdings in Starbucks were worth $217,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. grew its holdings in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the last quarter. Atticus Wealth Management LLC grew 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 valued at $32,000 after purchasing an additional 200 shares during the last quarter. Financial Connections Group Inc. bought a new position in shares of Starbucks during the 4th quarter valued at $38,000. Tennessee Valley Asset Management Partners bought a new position in shares of Starbucks during the 4th quarter valued at $38,000. Finally, Fortitude Family Office LLC bought a new position in shares of Starbucks during the 4th quarter valued at $40,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $87.87 on Wednesday. The firm has a market cap of $99.49 billion, a P/E ratio of 23.49, a P/E/G ratio of 1.44 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The firm has a 50-day simple moving average of $90.68 and a two-hundred day simple moving average of $94.39.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

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

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders have sold 7,000 shares of company stock valued at $629,738. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SBUX. Citigroup dropped their price target on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Guggenheim dropped their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Tuesday, January 16th. Stifel Nicolaus dropped their target price on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Finally, BMO Capital Markets dropped their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $106.68.

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.