Davidson Trust Co. Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Davidson Trust Co. cut its position in Starbucks Co. (NASDAQ:SBUX) by 5.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,568 shares of the coffee company’s stock after selling 399 shares during the period. Davidson Trust Co.’s holdings in Starbucks were worth $727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Freedom Wealth Alliance LLC purchased a new position in Starbucks during the fourth quarter valued at $26,000. Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Atticus Wealth Management LLC grew its stake in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. First Capital Advisors Group LLC. purchased a new position in Starbucks during the second quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the first quarter valued at $37,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.6 %

SBUX traded up $0.51 on Friday, reaching $87.66. 5,239,749 shares of the company traded hands, compared to its average volume of 8,366,421. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The firm has a fifty day simple moving average of $91.14 and a two-hundred day simple moving average of $94.42. The company has a market cap of $99.25 billion, a P/E ratio of 23.53, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97.

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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the business earned $0.75 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, equities analysts forecast that Starbucks Co. will post 4.03 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 60.96%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders have sold 7,250 shares of company stock valued at $653,183. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of several research reports. Stifel Nicolaus lowered their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Jefferies Financial Group lowered their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday. Piper Sandler lowered their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. 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. Finally, BTIG Research lowered their price objective on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Fourteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Hold” and a consensus price target 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.