Starbucks Co. (NASDAQ:SBUX) Shares Sold by Stokes Family Office LLC

Stokes Family Office LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,860 shares of the coffee company’s stock after selling 1,798 shares during the period. Stokes Family Office LLC’s holdings in Starbucks were worth $2,483,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Flossbach Von Storch AG raised its position in Starbucks by 8,677.8% during the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after acquiring an additional 2,684,470 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Starbucks by 432.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after purchasing an additional 1,656,591 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of Starbucks during the third quarter worth about $147,125,000. Nordea Investment Management AB raised its position in shares of Starbucks by 44.8% during the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after purchasing an additional 1,591,206 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after buying an additional 1,281,471 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last 90 days, insiders have sold 7,250 shares of company stock valued at $651,738. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Down 2.4 %

SBUX stock traded down $1.82 during mid-day trading on Friday, hitting $73.11. 22,115,226 shares of the company were exchanged, compared to its average volume of 9,469,554. The business has a fifty day simple moving average of $89.34 and a 200-day simple moving average of $93.98. The firm has a market capitalization of $82.81 billion, a P/E ratio of 20.14, a PEG ratio of 1.28 and a beta of 0.97. Starbucks Co. has a 12-month low of $72.67 and a 12-month high of $108.12.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the previous year, the business posted $0.74 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Research analysts predict that Starbucks Co. will post 3.89 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced 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 yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Wall Street Analyst Weigh In

SBUX has been the subject of several research reports. BMO Capital Markets cut their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, January 31st. Wedbush reduced their price objective on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Barclays decreased their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Friday. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $98.38.

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.