CapWealth Advisors LLC Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

CapWealth Advisors LLC reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 166,825 shares of the coffee company’s stock after selling 1,770 shares during the quarter. Starbucks makes up approximately 2.0% of CapWealth Advisors LLC’s investment portfolio, making the stock its 21st largest position. CapWealth Advisors LLC’s holdings in Starbucks were worth $16,017,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Quilter Plc purchased a new stake in shares of Starbucks during the first quarter valued at $208,530,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at $26,000. Riggs Asset Managment Co. Inc. lifted its stake in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC lifted its stake in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Finally, First Capital Advisors Group LLC. purchased a new stake in Starbucks in the second quarter worth about $35,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Up 0.8 %

Shares of SBUX traded up $0.69 during mid-day trading on Thursday, hitting $86.90. 3,533,183 shares of the company traded hands, compared to its average volume of 8,299,774. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The company has a market capitalization of $98.39 billion, a PE ratio of 23.05, a price-to-earnings-growth ratio of 1.37 and a beta of 0.97. The business has a 50 day moving average of $91.33 and a 200 day moving average of $94.47.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the company posted $0.75 EPS. Starbucks’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, research analysts expect that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Announces Dividend

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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.62%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were 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 in the company, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the SEC, which is available through this link. In the last quarter, insiders have sold 7,250 shares of company stock worth $653,183. 1.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on SBUX shares. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Morgan Stanley lowered their price objective on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Tuesday, January 16th. Finally, Stifel Nicolaus reduced their target price on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Thirteen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $107.43.

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.