Berkeley Capital Partners LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Berkeley Capital Partners LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 2.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,924 shares of the coffee company’s stock after selling 336 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Starbucks were worth $1,145,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Orca Investment Management LLC increased its holdings in shares of Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock valued at $719,000 after acquiring an additional 466 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after acquiring an additional 7,619 shares in the last quarter. Summa Corp. acquired a new position in shares of Starbucks during the fourth quarter valued at about $384,000. Finally, FFT Wealth Management LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $209,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 0.4 %

SBUX stock traded down $0.31 during midday trading on Monday, reaching $77.54. The stock had a trading volume of 11,176,830 shares, compared to its average volume of 10,112,439. The company’s fifty day simple moving average is $85.38 and its 200 day simple moving average is $92.56. The company has a market cap of $87.83 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.68 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly 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 analysts’ expectations of $9.12 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The firm’s revenue was down 1.8% on a year-over-year basis. Sell-side analysts predict that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.94%. Starbucks’s dividend payout ratio is presently 62.81%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research reports. BTIG Research cut their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Wedbush cut their price target on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Morgan Stanley cut their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $96.43.

Get Our Latest Research Report on Starbucks

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 sale, 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 4,000 shares of company stock worth $346,140 in the last quarter. Company insiders own 1.98% of the company’s stock.

Starbucks Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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