Doheny Asset Management CA Sells 1,843 Shares of Starbucks Co. (NASDAQ:SBUX)

Doheny Asset Management CA cut its stake in Starbucks Co. (NASDAQ:SBUX) by 15.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,984 shares of the coffee company’s stock after selling 1,843 shares during the quarter. Doheny Asset Management CA’s holdings in Starbucks were worth $959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBUX. Brookstone Capital Management boosted its holdings in shares of Starbucks by 8.4% in the third quarter. Brookstone Capital Management now owns 18,541 shares of the coffee company’s stock worth $1,751,000 after buying an additional 1,443 shares during the last quarter. Vicus Capital purchased a new position in shares of Starbucks in the third quarter worth approximately $237,000. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Starbucks by 1.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 647,987 shares of the coffee company’s stock worth $59,142,000 after buying an additional 8,374 shares during the last quarter. Simon Quick Advisors LLC boosted its holdings in shares of Starbucks by 7.9% in the third quarter. Simon Quick Advisors LLC now owns 3,675 shares of the coffee company’s stock worth $335,000 after buying an additional 269 shares during the last quarter. Finally, Capital Advisors Inc. OK boosted its holdings in shares of Starbucks by 11.5% in the third quarter. Capital Advisors Inc. OK now owns 3,789 shares of the coffee company’s stock worth $346,000 after buying an additional 391 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.1 %

SBUX stock traded up $0.09 during trading on Thursday, hitting $74.53. The company had a trading volume of 16,640,501 shares, compared to its average volume of 9,228,101. The firm has a market capitalization of $84.38 billion, a P/E ratio of 20.36, a PEG ratio of 1.49 and a beta of 0.97. Starbucks Co. has a 52-week low of $72.67 and a 52-week high of $109.72. The company has a 50 day simple moving average of $89.76 and a 200-day simple moving average of $94.11.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 50.10% and a net margin of 11.38%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. Sell-side analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.06%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 7,250 shares of company stock worth $651,738 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Wedbush dropped their price objective on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Stifel Nicolaus lowered their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Citigroup lowered their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Robert W. Baird lowered their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Finally, Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Tuesday, January 16th. Sixteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $100.39.

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.