MCF Advisors LLC Decreases Holdings in Starbucks Co. (NASDAQ:SBUX)

MCF Advisors LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,435 shares of the coffee company’s stock after selling 136 shares during the quarter. MCF Advisors LLC’s holdings in Starbucks were worth $234,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SBUX. Riggs Asset Managment Co. Inc. grew its stake in shares of Starbucks by 1,578.9% during 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 stake in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Financial Connections Group Inc. bought a new position in shares of Starbucks during the 4th quarter worth $38,000. Tennessee Valley Asset Management Partners bought a new position in shares of Starbucks during the 4th quarter worth $38,000. Finally, Fortitude Family Office LLC bought a new position in shares of Starbucks during the 4th quarter worth $40,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.4 %

Shares of NASDAQ SBUX traded up $0.39 during trading hours on Monday, reaching $88.00. 1,464,151 shares of the stock traded hands, compared to its average volume of 8,364,162. The company has a market capitalization of $99.63 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.42 and a beta of 0.97. Starbucks Co. has a 52-week low of $84.29 and a 52-week high of $115.48. The company’s 50-day simple moving average is $90.94 and its two-hundred day simple moving average is $94.45.

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). The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.75 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 4.01 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.59%. Starbucks’s dividend payout ratio is 60.96%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SBUX shares. Citigroup cut their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Robert W. Baird cut their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Jefferies Financial Group cut their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, April 16th. Gordon Haskett downgraded Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, January 16th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Friday. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $106.68.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 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 through the SEC website. In the last three months, insiders have sold 7,000 shares of company stock valued at $629,738. Corporate insiders own 1.98% of the company’s stock.

Starbucks 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.