FourThought Financial Partners LLC Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

FourThought Financial Partners LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,596 shares of the coffee company’s stock after selling 433 shares during the quarter. FourThought Financial Partners LLC’s holdings in Starbucks were worth $537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. grew its holdings in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Cypress Capital Management LLC WY boosted its stake in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. Atticus Wealth Management LLC increased its holdings in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares during the period. Evolution Advisers Inc. bought a new position in Starbucks in the fourth quarter worth approximately $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in Starbucks during the fourth quarter worth $38,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity 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 sale, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold a total of 7,250 shares of company stock worth $651,738 in the last three months. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on SBUX shares. Piper Sandler reduced their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Stephens reissued an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, January 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a “buy” rating to a “hold” rating and decreased their target price for the company from $108.00 to $89.00 in a research report on Wednesday. Finally, BMO Capital Markets cut their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $97.09.

Starbucks Stock 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 22,153,770 shares, compared to its average volume of 12,042,146. The firm has a market capitalization of $82.81 billion, a PE ratio of 20.14, a P/E/G ratio of 1.36 and a beta of 0.97. The stock has a fifty day moving average of $88.89 and a 200 day moving average of $93.84. Starbucks Co. has a twelve month low of $72.67 and a twelve month high of $108.12.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 for 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%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.74 EPS. Sell-side analysts anticipate that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

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.