Starbucks Co. (NASDAQ:SBUX) Shares Sold by Catalyst Financial Partners LLC

Catalyst Financial Partners LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,198 shares of the coffee company’s stock after selling 655 shares during the period. Catalyst Financial Partners LLC’s holdings in Starbucks were worth $691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in the business. Riggs Asset Managment Co. Inc. boosted its stake in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Cypress Capital Management LLC WY boosted its position in shares of Starbucks by 133.1% in the 4th 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 during the period. Atticus Wealth Management LLC grew its stake in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Evolution Advisers Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Starbucks during the fourth quarter worth approximately $38,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 3.0 %

SBUX traded up $2.18 during midday trading on Thursday, hitting $75.68. The company’s stock had a trading volume of 18,574,353 shares, compared to its average volume of 9,977,913. The firm has a market cap of $85.72 billion, a P/E ratio of 20.85, a PEG ratio of 1.58 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $108.11. The firm has a 50-day moving average price of $87.64 and a two-hundred day moving average price of $93.39.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period last year, the company posted $0.74 EPS. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts expect that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 3.01%. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $651,738 in the last three months. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. Wedbush dropped their price target on Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Deutsche Bank Aktiengesellschaft cut Starbucks from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $108.00 to $89.00 in a research report on Wednesday, May 1st. Evercore ISI lowered their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Citigroup cut their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $96.43.

Starbucks 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.