Starbucks Co. (NASDAQ:SBUX) Shares Sold by Shufro Rose & Co. LLC

Shufro Rose & Co. LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 191,121 shares of the coffee company’s stock after selling 1,469 shares during the period. Starbucks accounts for 1.6% of Shufro Rose & Co. LLC’s portfolio, making the stock its 21st biggest position. Shufro Rose & Co. LLC’s holdings in Starbucks were worth $17,444,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Magnus Financial Group LLC grew its holdings in shares of Starbucks by 63.3% during the fourth quarter. Magnus Financial Group LLC now owns 8,103 shares of the coffee company’s stock valued at $778,000 after buying an additional 3,142 shares during the last quarter. Legacy Capital Wealth Partners LLC grew its holdings in shares of Starbucks by 6.5% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,873 shares of the coffee company’s stock valued at $276,000 after buying an additional 175 shares during the last quarter. Stonebrook Private Inc. purchased a new stake in shares of Starbucks during the fourth quarter valued at $722,000. Principle Wealth Partners LLC grew its holdings in shares of Starbucks by 5.1% during the fourth quarter. Principle Wealth Partners LLC now owns 12,752 shares of the coffee company’s stock valued at $1,224,000 after buying an additional 615 shares during the last quarter. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $891,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Piper Sandler decreased their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Robert W. Baird dropped their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Stephens reissued an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Citigroup lowered their price objective on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Hold” and an average price target of $106.55.

Starbucks Price Performance

Shares of SBUX traded up $0.41 during midday trading on Friday, reaching $88.25. The stock had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The company’s fifty day simple moving average is $90.36 and its two-hundred day simple moving average is $94.28. The company has a market cap 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 (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the business posted $0.75 earnings per share. Starbucks’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 2.58%. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Buying and Selling

In other Starbucks 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 transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 in the last ninety days. 1.98% of the stock is 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.