DeDora Capital Inc. Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

DeDora Capital Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,547 shares of the coffee company’s stock after selling 273 shares during the quarter. DeDora Capital Inc.’s holdings in Starbucks were worth $416,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Willow Creek Wealth Management Inc. boosted its holdings in Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the last quarter. Valley Brook Capital Group Inc. raised its position in Starbucks by 2.4% in the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after acquiring an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. raised its position in Starbucks by 4.6% in the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after acquiring an additional 100 shares during the period. Herold Advisors Inc. raised its position in Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after acquiring an additional 100 shares during the period. Finally, Rodgers Brothers Inc. raised its position in Starbucks by 1.2% in the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wells Fargo & Company decreased their price target on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday. TD Cowen decreased their price objective on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a research report on Wednesday. Piper Sandler decreased their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Finally, Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, January 16th. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $97.09.

Starbucks Stock Performance

Starbucks stock traded down $1.82 during trading hours on Friday, hitting $73.11. The company had a trading volume of 22,153,770 shares, compared to its average volume of 12,042,146. The firm has a market cap of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.39 and a beta of 0.97. Starbucks Co. has a 1 year low of $72.67 and a 1 year high of $108.12. The company has a 50-day moving average price of $88.89 and a two-hundred day moving average price of $93.84.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (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 net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.74 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3.69 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last ninety days. Insiders own 1.98% of the company’s stock.

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.