Resonant Capital Advisors LLC Sells 198 Shares of Starbucks Co. (NASDAQ:SBUX)

Resonant Capital Advisors LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,370 shares of the coffee company’s stock after selling 198 shares during the period. Resonant Capital Advisors LLC’s holdings in Starbucks were worth $1,860,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. BCK Partners Inc. bought a new stake in shares of Starbucks in the 1st quarter valued at about $2,640,000. American Century Companies Inc. lifted its stake in shares of Starbucks by 7.3% in the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after acquiring an additional 1,872 shares during the last quarter. Roundview Capital LLC lifted its stake in shares of Starbucks by 37.5% in the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after acquiring an additional 1,952 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Starbucks in the 1st quarter valued at about $198,000. Finally, Mather Group LLC. lifted its stake in shares of Starbucks by 77.5% in the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after acquiring an additional 3,017 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.5 %

Shares of SBUX opened at $87.61 on Friday. The business’s 50 day moving average price is $90.94 and its 200-day moving average price is $94.39. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The stock has a market cap of $99.19 billion, a P/E ratio of 23.43, a P/E/G ratio of 1.41 and a beta of 0.97.

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

Starbucks Announces Dividend

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 given a $0.57 dividend. 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 2.60%. Starbucks’s dividend payout ratio is currently 60.96%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have sold a total of 7,250 shares of company stock valued at $653,183 in the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on SBUX shares. Stephens restated an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Piper Sandler reduced their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Royal Bank of Canada restated a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Jefferies Financial Group reduced their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Barclays reduced their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Starbucks has a consensus rating of “Hold” and a consensus price target of $106.68.

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.