Starbucks Co. (NASDAQ:SBUX) Stock Position Reduced by Stokes Family Office LLC

Stokes Family Office LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 6.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 25,860 shares of the coffee company’s stock after selling 1,798 shares during the period. Stokes Family Office LLC’s holdings in Starbucks were worth $2,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Starbucks by 277.7% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 107,293 shares of the coffee company’s stock worth $10,301,000 after purchasing an additional 78,885 shares during the period. SouthState Corp grew its position in shares of Starbucks by 3.5% during the 4th quarter. SouthState Corp now owns 3,738 shares of the coffee company’s stock valued at $359,000 after buying an additional 126 shares during the last quarter. Summit Global Investments raised its stake in Starbucks by 58.8% during the fourth quarter. Summit Global Investments now owns 78,950 shares of the coffee company’s stock worth $7,580,000 after acquiring an additional 29,220 shares during the period. Concentrum Wealth Management bought a new position in Starbucks in the fourth quarter worth about $272,000. Finally, Los Angeles Capital Management LLC boosted its stake in Starbucks by 432.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after acquiring an additional 1,656,591 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders have sold 7,250 shares of company stock valued at $651,738. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 2.4 %

Shares of NASDAQ SBUX traded down $1.82 during midday trading on Friday, reaching $73.11. The company’s stock had a trading volume of 22,115,226 shares, compared to its average volume of 9,469,554. The company has a market cap of $82.81 billion, a price-to-earnings ratio of 20.14, a price-to-earnings-growth ratio of 1.28 and a beta of 0.97. Starbucks Co. has a one year low of $72.67 and a one year high of $108.12. The company has a 50 day moving average price of $89.34 and a 200 day moving average price of $93.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates 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 49.91% and a net margin of 11.38%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. Research analysts anticipate that Starbucks Co. will post 3.89 earnings per share for the current fiscal 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 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 3.12%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Analyst Ratings Changes

Several analysts recently issued reports on the company. TD Cowen cut their price target on Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a report on Wednesday. Wells Fargo & Company reduced their price target on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Guggenheim lowered their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Jefferies Financial Group cut their price objective on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Barclays decreased their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $98.38.

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.