Mackay Shields LLC Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Mackay Shields LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 561,693 shares of the coffee company’s stock after selling 59,157 shares during the quarter. Mackay Shields LLC’s holdings in Starbucks were worth $49,384,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SBUX. Regal Wealth Group Inc. increased its position in shares of Starbucks by 210.7% during the fourth quarter. Regal Wealth Group Inc. now owns 320 shares of the coffee company’s stock worth $28,000 after acquiring an additional 217 shares during the period. Sound Income Strategies LLC increased its position in shares of Starbucks by 209.0% during the fourth quarter. Sound Income Strategies LLC now owns 343 shares of the coffee company’s stock worth $30,000 after acquiring an additional 232 shares during the period. Tobias Financial Advisors Inc. purchased a new position in shares of Starbucks during the fourth quarter worth approximately $31,000. Shine Investment Advisory Services Inc. increased its position in shares of Starbucks by 63.0% during the fourth quarter. Shine Investment Advisory Services Inc. now owns 370 shares of the coffee company’s stock worth $33,000 after acquiring an additional 143 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of Starbucks by 246.6% during the third quarter. Harel Insurance Investments & Financial Services Ltd. now owns 402 shares of the coffee company’s stock worth $36,000 after acquiring an additional 286 shares during the period. 68.18% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ SBUX traded up $0.14 on Friday, hitting $78.43. The stock had a trading volume of 19,108,449 shares, compared to its average volume of 8,441,448. The business’s fifty day moving average price is $88.69 and its 200 day moving average price is $88.46. Starbucks Co. has a 52-week low of $69.03 and a 52-week high of $99.72. The stock has a market cap of $94.68 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 1.96 and a beta of 0.56.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.79 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Starbucks had a net margin of 13.81% and a negative return on equity of 62.51%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.11 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Thursday, February 6th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.09%. The ex-dividend date was Wednesday, February 5th. Starbucks’s dividend payout ratio is currently 57.95%.

In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of Starbucks stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $88.12, for a total value of $374,686.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction on Monday, December 9th. The stock was sold at an average price of $86.47, for a total transaction of $172,940.00. The disclosure for this sale can be found here. Insiders sold 25,234 shares of company stock worth $2,227,343 over the last ninety days. Corporate insiders own 0.41% of the company’s stock.

A number of brokerages have recently commented on SBUX. BidaskClub raised shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Tuesday, February 18th. Weeden reissued a “neutral” rating on shares of Starbucks in a report on Friday, November 1st. Barclays raised shares of Starbucks from an “equal weight” rating to an “overweight” rating and set a $107.00 price objective on the stock in a report on Thursday, January 9th. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $93.00 price objective on the stock. in a report on Monday, January 6th. Finally, JPMorgan Chase & Co. raised shares of Starbucks to a “buy” rating and set a $94.00 price objective on the stock in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have given a buy rating to the company. Starbucks has a consensus rating of “Hold” and an average target price of $93.71.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Read More: How Investors Can Profit from Options Trading

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.