Transcend Capital Advisors LLC Sells 706 Shares of Starbucks Co. (NASDAQ:SBUX)

Transcend Capital Advisors LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,914 shares of the coffee company’s stock after selling 706 shares during the period. Transcend Capital Advisors LLC’s holdings in Starbucks were worth $1,624,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. boosted its stake 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 in the last quarter. Atticus Wealth Management LLC raised its position in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Evolution Advisers Inc. purchased a new position in Starbucks in the 4th quarter worth about $36,000. Tennessee Valley Asset Management Partners purchased a new position in Starbucks in the 4th quarter worth about $38,000. Finally, Financial Connections Group Inc. purchased a new position in Starbucks in the 4th quarter worth about $38,000. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 transaction, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 7,250 shares of company stock worth $651,738 in the last three months. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SBUX. JPMorgan Chase & Co. decreased their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Stifel Nicolaus decreased their target price on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Barclays decreased their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Guggenheim reduced 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. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $106.55.

Starbucks Trading Up 0.5 %

Starbucks stock traded up $0.41 during midday trading on Friday, hitting $88.25. The stock had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. The firm’s fifty day moving average is $90.36 and its two-hundred day moving average is $94.28. The company has a market capitalization of $99.92 billion, a PE ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48.

Starbucks (NASDAQ:SBUX) last posted 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

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.