S.E.E.D. Planning Group LLC Sells 3,397 Shares of Starbucks Co. (NASDAQ:SBUX)

S.E.E.D. Planning Group LLC cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 19.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 13,912 shares of the coffee company’s stock after selling 3,397 shares during the period. S.E.E.D. Planning Group LLC’s holdings in Starbucks were worth $1,336,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Freedom Wealth Alliance LLC bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Riggs Asset Managment Co. Inc. increased its position in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Atticus Wealth Management LLC increased its position in shares of 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 during the period. First Capital Advisors Group LLC. bought a new stake in Starbucks in the second quarter valued at $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in Starbucks in the first quarter valued at $37,000. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Down 1.3 %

Shares of SBUX traded down $1.14 during trading hours on Wednesday, hitting $85.99. 4,333,742 shares of the stock traded hands, compared to its average volume of 8,335,303. Starbucks Co. has a 1-year low of $85.60 and a 1-year high of $115.48. The firm has a market capitalization of $97.36 billion, a PE ratio of 23.30, a price-to-earnings-growth ratio of 1.39 and a beta of 0.97. The business has a fifty day moving average of $92.31 and a 200-day moving average of $94.75.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the company earned $0.75 EPS. The company’s revenue was up 8.2% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Co. will post 4.05 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.65%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. StockNews.com cut Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Piper Sandler lowered their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Morgan Stanley upgraded Starbucks from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $112.00 to $120.00 in a research report on Tuesday, January 16th. Finally, Stephens restated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Hold” and an average target price of $109.24.

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.