RB Capital Management LLC Sells 349 Shares of Starbucks Co. (NASDAQ:SBUX)

RB Capital Management LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 71,178 shares of the coffee company’s stock after selling 349 shares during the period. Starbucks comprises about 2.0% of RB Capital Management LLC’s portfolio, making the stock its 10th largest holding. RB Capital Management LLC’s holdings in Starbucks were worth $6,834,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the stock. Willow Creek Wealth Management Inc. increased its holdings in Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after purchasing an additional 97 shares in the last quarter. Valley Brook Capital Group Inc. increased its position in Starbucks by 2.4% in the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after purchasing an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. raised its stake in shares of Starbucks by 4.6% during the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after buying an additional 100 shares during the last quarter. Herold Advisors Inc. boosted its holdings in Starbucks by 4.3% during the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after buying an additional 100 shares during the last quarter. Finally, Rodgers Brothers Inc. lifted its holdings in Starbucks by 1.2% during the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $14.05 during midday trading on Wednesday, reaching $74.44. The company’s stock had a trading volume of 66,155,825 shares, compared to its average volume of 9,084,853. The firm has a 50 day moving average price of $90.17 and a two-hundred day moving average price of $94.25. Starbucks Co. has a fifty-two week low of $72.67 and a fifty-two week high of $114.56. The firm has a market capitalization of $84.28 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, research analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently disclosed 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 of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.06%. Starbucks’s dividend payout ratio is currently 60.96%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Guggenheim dropped their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. UBS Group cut their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Sixteen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average price target of $100.39.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 7,250 shares of company stock valued at $651,738 in the last three months. Corporate insiders own 1.98% of the company’s stock.

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.