Starbucks Co. (NASDAQ:SBUX) Shares Sold by Moss Adams Wealth Advisors LLC

Moss Adams Wealth Advisors LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 40.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,747 shares of the coffee company’s stock after selling 4,531 shares during the quarter. Moss Adams Wealth Advisors LLC’s holdings in Starbucks were worth $648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Verdence Capital Advisors LLC lifted its holdings in shares of Starbucks by 4.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 8,843 shares of the coffee company’s stock worth $807,000 after acquiring an additional 345 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Starbucks by 6.0% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 376,240 shares of the coffee company’s stock worth $34,339,000 after purchasing an additional 21,431 shares in the last quarter. Grandfield & Dodd LLC grew its stake in shares of Starbucks by 9.4% in the third quarter. Grandfield & Dodd LLC now owns 2,323 shares of the coffee company’s stock valued at $212,000 after buying an additional 200 shares in the last quarter. Baystate Wealth Management LLC raised its holdings in shares of Starbucks by 7.1% in the 3rd quarter. Baystate Wealth Management LLC now owns 2,606 shares of the coffee company’s stock valued at $238,000 after buying an additional 173 shares during the period. Finally, Seaview Investment Managers LLC lifted its stake in Starbucks by 2.8% during the 3rd quarter. Seaview Investment Managers LLC now owns 89,973 shares of the coffee company’s stock worth $8,212,000 after acquiring an additional 2,414 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was 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 approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $651,738 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered shares of Starbucks from a “buy” rating to a “hold” rating and cut their price target for the stock from $108.00 to $89.00 in a research note on Wednesday, May 1st. Stifel Nicolaus reduced their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. BTIG Research dropped their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. cut their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Finally, Piper Sandler decreased their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Monday. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average target price of $96.43.

Starbucks Stock Up 1.4 %

SBUX traded up $1.00 on Wednesday, hitting $73.50. 24,468,960 shares of the company traded hands, compared to its average volume of 9,881,239. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $108.11. The company has a 50 day moving average of $88.03 and a 200-day moving average of $93.53. The stock has a market capitalization of $83.25 billion, a PE ratio of 20.25, a PEG ratio of 1.58 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released 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 analysts’ expectations of $9.12 billion. During the same quarter last year, the company earned $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Co. will post 3.63 EPS for the current 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 paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

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.