Royal Fund Management LLC Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Royal Fund Management LLC cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,903 shares of the coffee company’s stock after selling 1,964 shares during the quarter. Royal Fund Management LLC’s holdings in Starbucks were worth $3,352,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its stake in Starbucks by 1.3% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 647,987 shares of the coffee company’s stock valued at $59,142,000 after purchasing an additional 8,374 shares during the last quarter. Simon Quick Advisors LLC grew its holdings in Starbucks by 7.9% in the third quarter. Simon Quick Advisors LLC now owns 3,675 shares of the coffee company’s stock valued at $335,000 after purchasing an additional 269 shares during the period. Stratos Wealth Advisors LLC grew its holdings in Starbucks by 38.5% in the third quarter. Stratos Wealth Advisors LLC now owns 9,015 shares of the coffee company’s stock valued at $823,000 after purchasing an additional 2,506 shares during the period. Horst & Graben Wealth Management LLC increased its position in Starbucks by 2.7% during the third quarter. Horst & Graben Wealth Management LLC now owns 5,261 shares of the coffee company’s stock worth $480,000 after purchasing an additional 137 shares during the last quarter. Finally, Baker Ellis Asset Management LLC raised its stake in Starbucks by 1.9% during the third quarter. Baker Ellis Asset Management LLC now owns 5,859 shares of the coffee company’s stock worth $535,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 2.4 %

NASDAQ SBUX traded down $1.82 during trading hours on Friday, reaching $73.11. 22,153,770 shares of the company traded hands, compared to its average volume of 12,042,146. The stock has a market capitalization of $82.81 billion, a PE ratio of 20.14, a PEG ratio of 1.36 and a beta of 0.97. Starbucks Co. has a 12 month low of $72.67 and a 12 month high of $108.12. The company has a 50 day moving average of $88.89 and a two-hundred day moving average of $93.84.

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

Starbucks Dividend Announcement

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 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. HSBC lowered their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday. UBS Group reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday. Wells Fargo & Company decreased their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday. Piper Sandler cut their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Finally, Jefferies Financial Group decreased their price objective on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average price target of $97.09.

Insider Buying and Selling

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 stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $651,738 over the last quarter. 1.98% of the stock is owned by company 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.