Fulton Breakefield Broenniman LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Fulton Breakefield Broenniman LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 12.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,849 shares of the coffee company’s stock after selling 394 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Starbucks were worth $274,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Starbucks by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after purchasing an additional 387,632 shares during the period. Northern Trust Corp increased its position in Starbucks by 1.5% during the 3rd quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock valued at $1,388,924,000 after purchasing an additional 232,031 shares during the period. Invesco Ltd. increased its position in Starbucks by 11.8% during the 3rd quarter. Invesco Ltd. now owns 10,541,739 shares of the coffee company’s stock valued at $962,144,000 after purchasing an additional 1,115,051 shares during the period. Nordea Investment Management AB increased its position in Starbucks by 44.8% during the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after purchasing an additional 1,591,206 shares during the period. Finally, Jensen Investment Management Inc. increased its position in Starbucks by 2.8% during the 3rd quarter. Jensen Investment Management Inc. now owns 4,956,442 shares of the coffee company’s stock valued at $452,374,000 after purchasing an additional 133,620 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Piper Sandler dropped their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. BMO Capital Markets dropped their target price 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. Finally, Guggenheim dropped their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $106.55.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 7,250 shares of company stock worth $651,738 over the last quarter. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.5 %

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 business’s 50-day moving average price is $90.36 and its 200-day moving average price is $94.27. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The stock has a market cap of $99.92 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm earned $0.75 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Starbucks Company Profile

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.