Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bailard Inc.

Bailard Inc. lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 13.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,324 shares of the coffee company’s stock after selling 9,448 shares during the period. Bailard Inc.’s holdings in Starbucks were worth $5,600,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Riggs Asset Managment Co. Inc. grew its position 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 worth $29,000 after acquiring an additional 300 shares in the last quarter. Atticus Wealth Management LLC raised its holdings in shares of Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Financial Connections Group Inc. bought a new position in shares of Starbucks in the 4th quarter worth about $38,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Starbucks in the 4th quarter valued at about $38,000. Finally, Fortitude Family Office LLC bought a new stake in shares of Starbucks during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX traded down $0.77 during trading hours on Thursday, reaching $87.98. The company’s stock had a trading volume of 4,856,446 shares, compared to its average volume of 8,361,351. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The business’s 50-day moving average is $90.57 and its 200-day moving average is $94.35. The company has a market cap of $99.61 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 EPS. On average, sell-side analysts predict that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company 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 $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. Starbucks’s payout ratio is presently 60.96%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Piper Sandler reduced their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. BTIG Research cut their price objective on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research report on Tuesday, January 16th. Finally, Barclays reduced their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $106.68.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 in the last quarter. 1.98% of the stock is currently 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.