Investment Partners LTD. Sells 277 Shares of Starbucks Co. (NASDAQ:SBUX)

Investment Partners LTD. decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,193 shares of the coffee company’s stock after selling 277 shares during the quarter. Investment Partners LTD.’s holdings in Starbucks were worth $307,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Riggs Asset Managment Co. Inc. grew its stake 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 worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC grew its stake in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Evolution Advisers Inc. bought a new position in Starbucks in the fourth quarter worth approximately $36,000. Financial Connections Group Inc. purchased a new stake in Starbucks during the fourth quarter worth $38,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Starbucks during the fourth quarter worth $38,000. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have sold 7,250 shares of company stock valued at $651,738. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.5 %

SBUX traded up $0.41 during midday trading on Friday, hitting $88.25. 7,185,257 shares of the company were exchanged, compared to its average volume of 7,387,159. The company’s 50 day simple moving average is $90.36 and its 200 day simple moving average is $94.27. The firm has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year 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 the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Robert W. Baird lowered their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Morgan Stanley lowered their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Jefferies Financial Group lowered their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Finally, BMO Capital Markets lowered their target price on 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 assigned a buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average price target of $106.55.

About Starbucks

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.