Parker Financial LLC Sells 264 Shares of Starbucks Co. (NASDAQ:SBUX)

Parker Financial LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,633 shares of the coffee company’s stock after selling 264 shares during the quarter. Starbucks accounts for 0.4% of Parker Financial LLC’s holdings, making the stock its 29th biggest position. Parker Financial LLC’s holdings in Starbucks were worth $637,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Quilter Plc bought a new position in Starbucks during the 1st quarter worth $208,530,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at about $26,000. Riggs Asset Managment Co. Inc. lifted its stake in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC lifted its stake in shares of Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Finally, First Capital Advisors Group LLC. bought a new stake in Starbucks in the second quarter worth approximately $35,000. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were 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 owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 4,000 shares of company stock worth $375,665. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Up 1.3 %

NASDAQ SBUX traded up $1.14 on Wednesday, reaching $91.50. The stock had a trading volume of 5,393,557 shares, compared to its average volume of 8,610,955. Starbucks Co. has a 12-month low of $89.21 and a 12-month high of $115.48. The stock has a fifty day moving average price of $93.05 and a two-hundred day moving average price of $95.19. The firm has a market capitalization of $103.60 billion, a price-to-earnings ratio of 24.45, a P/E/G ratio of 1.44 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its earnings results 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 firm 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 business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.75 EPS. Sell-side analysts forecast that Starbucks Co. will post 4.06 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid 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 2.49%. Starbucks’s payout ratio is currently 60.96%.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent research reports. TD Cowen restated a “market perform” rating and set a $102.00 price objective on shares of Starbucks in a report on Tuesday, March 19th. BMO Capital Markets decreased their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Barclays reduced their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. BTIG Research dropped their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, HSBC began coverage on Starbucks in a report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective for the company. Twelve research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus target price of $110.05.

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.