Clifford Swan Investment Counsel LLC Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Clifford Swan Investment Counsel LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 153,801 shares of the coffee company’s stock after selling 3,114 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Starbucks were worth $14,766,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Riggs Asset Managment Co. Inc. grew its position in Starbucks by 1,578.9% in the third 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. Cypress Capital Management LLC WY increased its position in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares during the last quarter. Atticus Wealth Management LLC lifted its position in Starbucks by 153.8% in the fourth 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 during the last quarter. Evolution Advisers Inc. purchased a new position in Starbucks during the fourth quarter worth about $36,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Starbucks during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 7,250 shares of company stock worth $651,738 in the last 90 days. 1.98% of the stock is owned by insiders.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $1.82 during trading on Friday, hitting $73.11. 22,153,770 shares of the company were exchanged, compared to its average volume of 12,042,146. The firm’s 50 day moving average price is $88.89 and its 200-day moving average price is $93.84. The stock has a market capitalization of $82.81 billion, a P/E 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.

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

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.12%. Starbucks’s payout ratio is 62.81%.

Analysts Set New Price Targets

Several equities analysts have recently commented on SBUX shares. William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday. Robert W. Baird decreased their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Tuesday, January 16th. Piper Sandler decreased their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Finally, Stifel Nicolaus dropped their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday. Seventeen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $97.09.

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.