Starbucks Co. (NASDAQ:SBUX) Shares Sold by Investment Partners LTD.

Investment Partners LTD. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 8.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,193 shares of the coffee company’s stock after selling 277 shares during the quarter. Investment Partners LTD.’s holdings in Starbucks were worth $307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Starbucks by 0.4% in the third quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after acquiring an additional 387,632 shares during the last quarter. Northern Trust Corp lifted its position in Starbucks by 1.5% in the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after acquiring an additional 232,031 shares during the last quarter. Invesco Ltd. lifted its position in Starbucks by 11.8% in the third quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after acquiring an additional 1,115,051 shares during the last quarter. Nordea Investment Management AB lifted its position in Starbucks by 44.8% in the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after acquiring an additional 1,591,206 shares during the last quarter. Finally, Jensen Investment Management Inc. lifted its position in Starbucks by 2.8% in the third quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock valued at $452,374,000 after acquiring an additional 133,620 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX traded up $0.41 on Friday, hitting $88.25. 7,185,257 shares of the company were exchanged, compared to its average volume of 7,387,159. The business’s fifty day moving average is $90.36 and its 200 day moving average is $94.27. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The firm has a market capitalization of $99.92 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued 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 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 quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. Analysts forecast that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 dividend yield of 2.58%. Starbucks’s dividend payout ratio is presently 60.96%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SBUX. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Robert W. Baird reduced their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Piper Sandler reduced their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. BTIG Research reduced their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Finally, Stephens reaffirmed an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $106.55.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 over the last ninety days. 1.98% of the stock is currently owned by 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.