Starbucks Co. (NASDAQ:SBUX) Shares Sold by Doheny Asset Management CA

Doheny Asset Management CA decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 15.6% during the 4th quarter, HoldingsChannel reports. The fund owned 9,984 shares of the coffee company’s stock after selling 1,843 shares during the quarter. Doheny Asset Management CA’s holdings in Starbucks were worth $959,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. raised its holdings in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the period. Cypress Capital Management LLC WY raised its holdings in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares during the period. Atticus Wealth Management LLC raised its holdings in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares during the period. Evolution Advisers Inc. purchased a new stake in Starbucks in the 4th quarter valued at about $36,000. Finally, Financial Connections Group Inc. purchased a new stake in Starbucks in the 4th quarter valued at about $38,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on SBUX shares. Wedbush reduced their price objective on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Jefferies Financial Group cut their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Finally, BTIG Research cut their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.39.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the company’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 transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,250 shares of company stock valued at $651,738 over the last three months. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Up 0.1 %

SBUX traded up $0.09 on Thursday, reaching $74.53. The company’s stock had a trading volume of 16,640,501 shares, compared to its average volume of 9,228,101. The stock has a 50 day moving average of $89.76 and a two-hundred day moving average of $94.11. The company has a market capitalization of $84.38 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.49 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $72.67 and a fifty-two week high of $109.72.

Starbucks (NASDAQ:SBUX) last announced 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 during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 50.10%. The business’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 3.99 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. Investors of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Starbucks Company 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.