Leisure Capital Management Sells 2,357 Shares of Starbucks Co. (NASDAQ:SBUX)

Leisure Capital Management trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 16.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,832 shares of the coffee company’s stock after selling 2,357 shares during the quarter. Leisure Capital Management’s holdings in Starbucks were worth $1,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. Riggs Asset Managment Co. Inc. raised its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Atticus Wealth Management LLC raised its holdings in shares of Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Evolution Advisers Inc. acquired a new position in Starbucks in the 4th quarter valued at about $36,000. Financial Connections Group Inc. acquired a new position in Starbucks in the 4th quarter valued at about $38,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in Starbucks in the 4th quarter valued at about $38,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SBUX. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Morgan Stanley decreased their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, January 16th. BMO Capital Markets decreased their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 19th. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $106.55.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 7,250 shares of company stock valued at $651,738 in the last quarter. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.5 %

NASDAQ:SBUX traded up $0.41 on Friday, hitting $88.25. The company had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. The stock has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.48 and a beta of 0.97. The firm has a 50 day moving average of $90.36 and a two-hundred day moving average of $94.27. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48.

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

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

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.