Kennon Green & Company LLC Trims Position in Starbucks Co. (NASDAQ:SBUX)

Kennon Green & Company LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,288 shares of the coffee company’s stock after selling 450 shares during the period. Starbucks comprises 2.8% of Kennon Green & Company LLC’s holdings, making the stock its 13th biggest holding. Kennon Green & Company LLC’s holdings in Starbucks were worth $2,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Avestar Capital LLC boosted its position in Starbucks by 14.2% during the third quarter. Avestar Capital LLC now owns 4,638 shares of the coffee company’s stock valued at $423,000 after purchasing an additional 577 shares in the last quarter. Brookstone Capital Management boosted its holdings in shares of Starbucks by 8.4% in the 3rd quarter. Brookstone Capital Management now owns 18,541 shares of the coffee company’s stock valued at $1,751,000 after buying an additional 1,443 shares in the last quarter. Capital Planning LLC grew its position in shares of Starbucks by 14.3% in the 3rd quarter. Capital Planning LLC now owns 7,849 shares of the coffee company’s stock worth $716,000 after buying an additional 980 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Starbucks by 0.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 590,751 shares of the coffee company’s stock worth $53,918,000 after acquiring an additional 2,514 shares in the last quarter. Finally, FAS Wealth Partners Inc. lifted its position in Starbucks by 4.6% during the third quarter. FAS Wealth Partners Inc. now owns 22,083 shares of the coffee company’s stock valued at $2,015,000 after acquiring an additional 976 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, January 16th. JPMorgan Chase & Co. cut their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Stifel Nicolaus dropped their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Thursday, April 11th. Finally, Robert W. Baird reduced their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Hold” and a consensus price target of $106.55.

Insiders Place Their Bets

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,250 shares of company stock worth $651,738 in the last 90 days. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.31 during midday trading on Monday, reaching $87.94. 5,304,829 shares of the stock were exchanged, compared to its average volume of 8,339,400. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The stock has a market capitalization of $99.57 billion, a P/E ratio of 23.55, a PEG ratio of 1.48 and a beta of 0.98. The company has a 50 day simple moving average of $90.36 and a 200 day simple moving average of $94.30.

Starbucks (NASDAQ:SBUX) last announced its 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). The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.75 earnings per share. On average, research analysts expect that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. Starbucks’s dividend payout ratio is currently 60.96%.

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.