Starbucks Co. (NASDAQ:SBUX) Shares Sold by TCI Wealth Advisors Inc.

TCI Wealth Advisors Inc. reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,613 shares of the coffee company’s stock after selling 347 shares during the period. TCI Wealth Advisors Inc.’s holdings in Starbucks were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. Avalon Trust Co increased its holdings in shares of Starbucks by 10.9% during the 4th quarter. Avalon Trust Co now owns 3,216 shares of the coffee company’s stock worth $309,000 after buying an additional 316 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Starbucks by 74.4% during the 4th quarter. National Bank of Canada FI now owns 1,884,183 shares of the coffee company’s stock worth $176,487,000 after purchasing an additional 803,853 shares during the period. TCG Advisory Services LLC increased its holdings in Starbucks by 200.8% in the 4th quarter. TCG Advisory Services LLC now owns 13,146 shares of the coffee company’s stock valued at $1,262,000 after purchasing an additional 8,775 shares during the last quarter. Forte Capital LLC ADV raised its position in Starbucks by 21.4% in the fourth quarter. Forte Capital LLC ADV now owns 7,843 shares of the coffee company’s stock valued at $753,000 after purchasing an additional 1,381 shares during the period. Finally, First National Trust Co lifted its stake in Starbucks by 2.2% during the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after purchasing an additional 106 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

NASDAQ:SBUX traded down $0.34 during midday trading on Monday, reaching $72.77. The stock had a trading volume of 15,654,297 shares, compared to its average volume of 9,526,872. The firm’s fifty day simple moving average is $88.89 and its 200-day simple moving average is $93.84. Starbucks Co. has a 1-year low of $72.67 and a 1-year high of $108.12. The stock has a market capitalization of $82.43 billion, a P/E ratio of 20.20, a PEG ratio of 1.58 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results 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 period in the prior year, the firm earned $0.74 EPS. Starbucks’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. BMO Capital Markets dropped their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Piper Sandler dropped their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday. TD Cowen cut their price target on Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, Wedbush lowered their price objective on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. Seventeen analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target 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.