Starbucks Co. (NASDAQ:SBUX) Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,338 shares of the coffee company’s stock after selling 3,601 shares during the quarter. Metis Global Partners LLC’s holdings in Starbucks were worth $5,121,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SBUX. Riggs Asset Managment Co. Inc. lifted 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 valued at $29,000 after buying an additional 300 shares during the period. Cypress Capital Management LLC WY lifted its holdings in Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the period. Atticus Wealth Management LLC boosted 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 worth $32,000 after purchasing an additional 200 shares in the last quarter. Evolution Advisers Inc. acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of Starbucks during the 4th quarter valued at approximately $38,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SBUX. HSBC lowered their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday. JPMorgan Chase & Co. dropped their target price on Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday. Stifel Nicolaus reduced their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Citigroup dropped their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, TD Cowen reduced their target price on Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $97.09.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $1.82 during trading on Friday, hitting $73.11. The company’s stock had a trading volume of 22,153,770 shares, compared to its average volume of 12,042,146. Starbucks Co. has a fifty-two week low of $72.67 and a fifty-two week high of $108.12. The business has a 50 day moving average price of $88.89 and a two-hundred day moving average price of $93.84. The company has a market capitalization of $82.81 billion, a PE ratio of 20.14, a P/E/G ratio of 1.36 and a beta of 0.97.

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

Starbucks Dividend Announcement

The firm also recently announced 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. This represents a $2.28 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 7,250 shares of company stock valued at $651,738 over the last three months. 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.