Transcend Capital Advisors LLC Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Transcend Capital Advisors LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 4.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,914 shares of the coffee company’s stock after selling 706 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Starbucks were worth $1,624,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Flossbach Von Storch AG lifted its holdings in Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after acquiring an additional 2,684,470 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in Starbucks in the third quarter valued at approximately $147,125,000. Nordea Investment Management AB lifted its holdings 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. Cerity Partners LLC lifted its holdings in Starbucks by 481.9% in the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Starbucks by 32.7% in the third quarter. Envestnet Asset Management Inc. now owns 4,679,621 shares of the coffee company’s stock valued at $427,109,000 after acquiring an additional 1,154,020 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.5 %

NASDAQ:SBUX traded up $0.41 during trading hours on Friday, hitting $88.25. The company’s stock had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. The stock 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. The stock has a fifty day moving average of $90.36 and a 200-day moving average of $94.28. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm 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%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.75 EPS. On average, sell-side analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 annualized dividend and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders sold 7,250 shares of company stock worth $651,738. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Citigroup decreased their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Wells Fargo & Company restated an “overweight” rating and set a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Wedbush decreased their price target on Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Piper Sandler decreased their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average target price of $106.55.

About Starbucks

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.