Latitude Advisors LLC Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Latitude Advisors LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 5.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,054 shares of the coffee company’s stock after selling 222 shares during the quarter. Latitude Advisors LLC’s holdings in Starbucks were worth $389,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $1,222,931,000. Moneta Group Investment Advisors LLC boosted its stake in shares of Starbucks by 115,334.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after buying an additional 8,486,281 shares in the last quarter. Morgan Stanley boosted its stake in shares of Starbucks by 46.3% in the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after buying an additional 8,451,599 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Starbucks in the first quarter valued at approximately $190,270,000. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Starbucks during the third quarter worth $147,125,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.3 %

NASDAQ SBUX traded up $0.27 on Wednesday, hitting $85.69. 978,602 shares of the stock traded hands, compared to its average volume of 8,288,898. The stock has a 50-day moving average of $91.51 and a 200 day moving average of $94.53. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The company has a market capitalization of $97.02 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.36 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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). The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.75 EPS. As a group, equities research analysts expect that Starbucks Co. will post 4.04 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Analyst Ratings Changes

SBUX has been the subject of several research reports. BMO Capital Markets reduced their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Barclays reduced their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. TD Cowen reissued a “hold” rating and issued a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a report on Tuesday, January 16th. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.43.

Insider Transactions at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is currently owned by company insiders.

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.