Starbucks Co. (NASDAQ:SBUX) Shares Sold by Gitterman Wealth Management LLC

Gitterman Wealth Management LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 7.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,895 shares of the coffee company’s stock after selling 300 shares during the period. Gitterman Wealth Management LLC’s holdings in Starbucks were worth $374,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SBUX. Riggs Asset Managment Co. Inc. increased 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 worth $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC grew its position in 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 buying an additional 200 shares in the last quarter. Evolution Advisers Inc. bought a new position in Starbucks in the 4th quarter valued at about $36,000. Financial Connections Group Inc. bought a new position in Starbucks in the 4th quarter valued at about $38,000. Finally, Tennessee Valley Asset Management Partners bought a new position in Starbucks in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBUX. BMO Capital Markets decreased their target price on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. JPMorgan Chase & Co. reduced their price objective on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Finally, BTIG Research reduced their price objective on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average target price of $106.55.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded up $0.41 during mid-day trading on Friday, reaching $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 fifty day moving average of $90.36 and a two-hundred day moving average of $94.28. The company 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. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

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

Starbucks Announces Dividend

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

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by corporate insiders.

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.