Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bender Robert & Associates

Bender Robert & Associates cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 45,310 shares of the coffee company’s stock after selling 239 shares during the period. Starbucks comprises approximately 1.1% of Bender Robert & Associates’ holdings, making the stock its 20th biggest position. Bender Robert & Associates’ holdings in Starbucks were worth $4,350,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Riggs Asset Managment Co. Inc. raised its position 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 worth $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC lifted its holdings 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 purchasing an additional 200 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in shares of Starbucks in the second quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the first quarter worth about $37,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.1 %

NASDAQ SBUX traded up $0.94 on Thursday, reaching $87.15. The stock had a trading volume of 11,368,190 shares, compared to its average volume of 8,410,610. The stock has a fifty day moving average price of $91.33 and a two-hundred day moving average price of $94.47. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The firm has a market capitalization of $98.67 billion, a price-to-earnings ratio of 23.05, a P/E/G ratio of 1.37 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 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 firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the firm posted $0.75 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm 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 dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.62%. Starbucks’s dividend payout ratio is presently 60.96%.

Analyst Ratings Changes

Several research firms recently issued reports on SBUX. BTIG Research lowered their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Barclays lowered their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. StockNews.com cut Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. BMO Capital Markets lowered their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Finally, Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Thirteen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $107.43.

Insider Activity

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 7,250 shares of company stock valued at $653,183. 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.