Adell Harriman & Carpenter Inc. Has $3.71 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Adell Harriman & Carpenter Inc. lessened its position in Starbucks Co. (NASDAQ:SBUX) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,647 shares of the coffee company’s stock after selling 1,136 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Starbucks were worth $3,711,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Orca Investment Management LLC increased its position in shares of Starbucks by 6.6% during the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after purchasing an additional 466 shares during the last quarter. Cypress Capital Management LLC WY increased its position in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. Naviter Wealth LLC increased its position in shares of Starbucks by 21.4% during the 4th quarter. Naviter Wealth LLC now owns 13,511 shares of the coffee company’s stock worth $1,297,000 after purchasing an additional 2,380 shares during the last quarter. Investment House LLC increased its position in shares of Starbucks by 3.7% during the 4th quarter. Investment House LLC now owns 8,532 shares of the coffee company’s stock worth $819,000 after purchasing an additional 307 shares during the last quarter. Finally, Choreo LLC increased its position in shares of Starbucks by 24.7% during the 4th quarter. Choreo LLC now owns 29,236 shares of the coffee company’s stock worth $2,807,000 after purchasing an additional 5,797 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by insiders.

Starbucks Price Performance

NASDAQ:SBUX traded up $0.08 during trading hours on Monday, hitting $88.33. The company’s stock had a trading volume of 8,264,611 shares, compared to its average volume of 8,377,906. The company has a market capitalization of $100.01 billion, a P/E ratio of 23.55, a PEG ratio of 1.48 and a beta of 0.98. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The stock has a fifty day simple moving average of $90.36 and a 200-day simple moving average of $94.30.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’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 business posted $0.75 earnings per share. On average, equities analysts predict that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently weighed in on SBUX. Wells Fargo & Company restated an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Citigroup dropped their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. JPMorgan Chase & Co. decreased their price objective on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Wedbush decreased their price objective on Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday. Finally, Piper Sandler decreased their price objective on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Fourteen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.55.

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.