Starbucks Co. (NASDAQ:SBUX) Shares Sold by Carl P. Sherr & Co. LLC

Carl P. Sherr & Co. LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,699 shares of the coffee company’s stock after selling 6,049 shares during the period. Starbucks makes up approximately 0.9% of Carl P. Sherr & Co. LLC’s holdings, making the stock its 26th largest position. Carl P. Sherr & Co. LLC’s holdings in Starbucks were worth $1,507,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SBUX. Freedom Wealth Alliance LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $26,000. Riggs Asset Managment Co. Inc. raised its stake in shares of Starbucks by 1,578.9% during 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 during the last quarter. Atticus Wealth Management LLC grew 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 valued at $32,000 after buying an additional 200 shares during the last quarter. First Capital Advisors Group LLC. acquired a new position in Starbucks in the 2nd quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on 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 owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.17 during midday trading on Wednesday, hitting $85.59. 1,294,873 shares of the company’s stock traded hands, compared to its average volume of 8,293,308. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The company has a market cap of $96.90 billion, a PE ratio of 22.84, a P/E/G ratio of 1.36 and a beta of 0.97. The firm’s fifty day moving average price is $91.51 and its two-hundred day moving average price is $94.53.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 4.04 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced 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. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.66%. Starbucks’s payout ratio is currently 60.96%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SBUX shares. Royal Bank of Canada restated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Jefferies Financial Group reduced their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday. Robert W. Baird dropped their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Stephens reiterated an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Finally, TD Cowen restated a “hold” rating and set a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $107.43.

Starbucks 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.