Bogart Wealth LLC Sells 246 Shares of Starbucks Co. (NASDAQ:SBUX)

Bogart Wealth LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 75,089 shares of the coffee company’s stock after selling 246 shares during the quarter. Bogart Wealth LLC’s holdings in Starbucks were worth $7,209,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Willow Creek Wealth Management Inc. raised its stake in shares of Starbucks by 3.0% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after purchasing an additional 97 shares during the period. Valley Brook Capital Group Inc. lifted its stake in Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after acquiring an additional 100 shares in the last quarter. Charles Schwab Investment Advisory Inc. lifted its stake in Starbucks by 4.6% in the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after acquiring an additional 100 shares in the last quarter. Herold Advisors Inc. boosted its position in Starbucks by 4.3% during the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after acquiring an additional 100 shares during the last quarter. Finally, Rodgers Brothers Inc. grew its stake in shares of Starbucks by 1.2% during the 3rd quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBUX. DZ Bank cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a report on Friday, May 3rd. Wedbush decreased their price objective on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Morgan Stanley lowered their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Jefferies Financial Group reduced their price target on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Finally, JPMorgan Chase & Co. lowered their price target on Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Hold” and an average price target of $96.43.

Starbucks Trading Up 2.2 %

Shares of NASDAQ:SBUX traded up $1.61 during trading on Thursday, reaching $75.11. 3,768,246 shares of the stock were exchanged, compared to its average volume of 9,793,368. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $108.11. The stock has a 50-day moving average price of $88.03 and a 200-day moving average price of $93.53. The firm has a market cap of $85.08 billion, a PE ratio of 20.25, a PEG ratio of 1.58 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.74 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm 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 is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.04%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is 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.