American Financial Advisors LLC Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

American Financial Advisors LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,872 shares of the coffee company’s stock after selling 176 shares during the quarter. American Financial Advisors LLC’s holdings in Starbucks were worth $372,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Beaumont Financial Advisors LLC lifted its holdings in Starbucks by 5.2% during the 4th quarter. Beaumont Financial Advisors LLC now owns 4,581 shares of the coffee company’s stock worth $440,000 after buying an additional 226 shares in the last quarter. Cutler Investment Counsel LLC lifted its holdings in Starbucks by 2.1% during the 4th quarter. Cutler Investment Counsel LLC now owns 12,842 shares of the coffee company’s stock worth $1,233,000 after buying an additional 258 shares in the last quarter. HTLF Bank acquired a new stake in Starbucks during the 4th quarter worth approximately $5,341,000. Lafayette Investments Inc. lifted its holdings in Starbucks by 2.5% during the 4th quarter. Lafayette Investments Inc. now owns 63,373 shares of the coffee company’s stock worth $6,084,000 after buying an additional 1,530 shares in the last quarter. Finally, Fidelis Capital Partners LLC raised its holdings in shares of Starbucks by 35.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 9,365 shares of the coffee company’s stock valued at $899,000 after purchasing an additional 2,462 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX traded up $0.46 on Friday, hitting $87.61. 11,898,220 shares of the company were exchanged, compared to its average volume of 8,456,940. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The firm has a market capitalization of $99.19 billion, a P/E ratio of 23.38, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. The business’s fifty day moving average is $91.14 and its 200 day moving average is $94.42.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. Analysts forecast that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Barclays reduced their price objective on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Robert W. Baird reduced their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Citigroup reduced their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Finally, Wedbush reiterated a “neutral” rating and set a $95.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $106.68.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have sold 7,250 shares of company stock valued at $653,183. Company 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.