Starbucks Co. (NASDAQ:SBUX) Shares Sold by Financial Advisors Network Inc.

Financial Advisors Network Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 19.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,490 shares of the coffee company’s stock after selling 853 shares during the quarter. Financial Advisors Network Inc.’s holdings in Starbucks were worth $335,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. lifted its holdings in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Cypress Capital Management LLC WY lifted its holdings in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares in the last quarter. Atticus Wealth Management LLC increased its position in shares of 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 purchasing an additional 200 shares during the last quarter. Evolution Advisers Inc. purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $36,000. Finally, Tennessee Valley Asset Management Partners purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $38,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX stock traded down $1.34 during mid-day trading on Thursday, hitting $79.38. The stock had a trading volume of 4,303,588 shares, compared to its average volume of 10,158,170. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The firm has a market cap of $89.91 billion, a PE ratio of 21.90, a PEG ratio of 1.68 and a beta of 0.97. The company’s 50-day simple moving average is $84.58 and its 200-day simple moving average is $92.14.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 3,750 shares of company stock worth $322,675 over the last 90 days. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of recent analyst reports. Evercore ISI dropped their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and dropped their price objective for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. Stephens reissued an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. 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. Finally, UBS Group dropped their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $96.43.

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.