Delta Financial Advisors LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Delta Financial Advisors LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,388 shares of the coffee company’s stock after selling 116 shares during the period. Delta Financial Advisors LLC’s holdings in Starbucks were worth $1,861,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Freedom Wealth Alliance LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at about $26,000. Riggs Asset Managment Co. Inc. increased its position 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 valued at $29,000 after purchasing an additional 300 shares during the last quarter. Atticus Wealth Management LLC increased its position 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 valued at $32,000 after purchasing an additional 200 shares during the last quarter. First Capital Advisors Group LLC. bought a new position in shares of Starbucks during the 2nd quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 1st quarter valued at about $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.7 %

Shares of SBUX traded up $0.64 during mid-day trading on Thursday, hitting $86.85. 3,192,898 shares of the company’s stock traded hands, compared to its average volume of 8,297,180. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48. The firm has a market capitalization of $98.33 billion, a P/E ratio of 23.05, a PEG ratio of 1.37 and a beta of 0.97. The business’s 50-day moving average price is $91.33 and its 200-day moving average price is $94.47.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was up 8.2% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given 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 2.63%. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Activity at Starbucks

In related 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 transaction of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 7,250 shares of company stock worth $653,183 over the last ninety days. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Jefferies Financial Group reduced their price objective on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research report on Tuesday. Barclays reduced their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. BTIG Research reduced their price target on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a research report on Wednesday, January 31st. Finally, Morgan Stanley reduced their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $107.43.

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.