Starbucks Co. (NASDAQ:SBUX) Stock Position Trimmed by Everett Harris & Co. CA

Everett Harris & Co. CA decreased its position in Starbucks Co. (NASDAQ:SBUX) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,132,230 shares of the coffee company’s stock after selling 1,467 shares during the period. Starbucks makes up approximately 1.6% of Everett Harris & Co. CA’s holdings, making the stock its 16th biggest position. Everett Harris & Co. CA’s holdings in Starbucks were worth $108,705,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SBUX. Good Life Advisors LLC grew its holdings in Starbucks by 6.3% in the 4th quarter. Good Life Advisors LLC now owns 8,400 shares of the coffee company’s stock worth $807,000 after buying an additional 500 shares in the last quarter. Elk River Wealth Management LLC grew its stake in shares of Starbucks by 1.3% in the fourth quarter. Elk River Wealth Management LLC now owns 33,560 shares of the coffee company’s stock worth $3,222,000 after purchasing an additional 440 shares in the last quarter. Altfest L J & Co. Inc. increased its holdings in shares of Starbucks by 2.4% during the fourth quarter. Altfest L J & Co. Inc. now owns 5,729 shares of the coffee company’s stock valued at $550,000 after purchasing an additional 133 shares during the period. Deane Retirement Strategies Inc. raised its stake in shares of Starbucks by 13,875.7% during the fourth quarter. Deane Retirement Strategies Inc. now owns 28,790 shares of the coffee company’s stock valued at $2,764,000 after purchasing an additional 28,584 shares in the last quarter. Finally, First National Corp MA ADV acquired a new stake in Starbucks in the fourth quarter worth about $210,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on SBUX shares. HSBC assumed coverage on shares of Starbucks in a research report on Wednesday, December 20th. They set a “hold” rating and a $107.00 price target on the stock. BTIG Research dropped their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Tuesday, January 16th. Stephens reissued an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. Twelve equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $110.05.

Starbucks Price Performance

SBUX traded up $1.14 on Wednesday, reaching $91.50. 5,393,557 shares of the company traded hands, compared to its average volume of 8,610,955. Starbucks Co. has a 52-week low of $89.21 and a 52-week high of $115.48. The company has a market cap of $103.60 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 1.44 and a beta of 0.98. The stock’s 50 day moving average price is $93.05 and its 200-day moving average price is $95.19.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The company’s revenue was up 8.2% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Co. will post 4.06 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is owned by corporate insiders.

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.