Starbucks Co. (NASDAQ:SBUX) Shares Sold by Fiduciary Group LLC

Fiduciary Group LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,005 shares of the coffee company’s stock after selling 2,294 shares during the period. Starbucks comprises approximately 0.9% of Fiduciary Group LLC’s holdings, making the stock its 28th largest holding. Fiduciary Group LLC’s holdings in Starbucks were worth $8,065,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Family Firm Inc. raised its position in shares of Starbucks by 20.8% during the 3rd quarter. Family Firm Inc. now owns 2,915 shares of the coffee company’s stock worth $266,000 after purchasing an additional 501 shares during the period. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Starbucks by 17.9% in the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 2,637 shares of the coffee company’s stock valued at $241,000 after buying an additional 400 shares during the last quarter. Signet Investment Advisory Group Inc. lifted its stake in Starbucks by 11.7% in the third quarter. Signet Investment Advisory Group Inc. now owns 16,885 shares of the coffee company’s stock valued at $1,541,000 after buying an additional 1,764 shares during the last quarter. Avestar Capital LLC boosted its holdings in shares of 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 acquiring an additional 577 shares during the period. Finally, Brookstone Capital Management grew its position in shares of Starbucks by 8.4% during the third quarter. Brookstone Capital Management now owns 18,541 shares of the coffee company’s stock worth $1,751,000 after acquiring an additional 1,443 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders have sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Guggenheim reduced their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. reduced their price objective on Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Citigroup lowered their target price on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Morgan Stanley cut their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, TD Cowen reissued a “hold” rating and issued a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $106.55.

Starbucks Trading Up 0.5 %

Shares of Starbucks stock traded up $0.41 on Friday, reaching $88.25. 7,185,257 shares of the company were exchanged, compared to its average volume of 7,387,159. 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 price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. The stock has a fifty day moving average price of $90.36 and a 200-day moving average price of $94.28.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business posted $0.75 EPS. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed 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. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is 60.96%.

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.