Starbucks Co. (NASDAQ:SBUX) Stock Holdings Cut by High Note Wealth LLC

High Note Wealth LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 60.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,688 shares of the coffee company’s stock after selling 16,562 shares during the quarter. High Note Wealth LLC’s holdings in Starbucks were worth $1,026,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new position in Starbucks in the fourth quarter valued at about $1,222,931,000. Moneta Group Investment Advisors LLC raised its holdings in shares of Starbucks by 115,334.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,493,639 shares of the coffee company’s stock valued at $842,569,000 after purchasing an additional 8,486,281 shares in the last quarter. Morgan Stanley boosted its holdings in Starbucks by 46.3% in the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock worth $2,650,462,000 after purchasing an additional 8,451,599 shares in the last quarter. BlackRock Inc. raised its holdings in Starbucks by 4.5% during the second quarter. BlackRock Inc. now owns 80,373,017 shares of the coffee company’s stock valued at $7,961,751,000 after buying an additional 3,459,390 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Starbucks in the first quarter worth about $190,270,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 1.3 %

NASDAQ:SBUX opened at $91.50 on Thursday. Starbucks Co. has a 12-month low of $89.21 and a 12-month high of $115.48. The firm has a market capitalization of $103.60 billion, a price-to-earnings ratio of 24.47, a P/E/G ratio of 1.44 and a beta of 0.98. The stock’s 50 day moving average price is $93.05 and its two-hundred day moving average price is $95.19.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. Equities research analysts expect that Starbucks Co. will post 4.06 EPS for the current 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 issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is presently 60.96%.

Insider Buying and Selling

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on 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 directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SBUX. Gordon Haskett lowered 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. BMO Capital Markets decreased their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. TD Cowen restated a “market perform” rating and set a $102.00 price target on shares of Starbucks in a report on Tuesday, March 19th. Piper Sandler cut their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Finally, Robert W. Baird cut their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average target price of $110.05.

Starbucks 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.