Starbucks Co. (NASDAQ:SBUX) Stock Position Lowered by Lakeside Advisors INC.

Lakeside Advisors INC. lessened its position in Starbucks Co. (NASDAQ:SBUX) by 0.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 29,191 shares of the coffee company’s stock after selling 141 shares during the period. Starbucks makes up 1.9% of Lakeside Advisors INC.’s holdings, making the stock its 12th largest position. Lakeside Advisors INC.’s holdings in Starbucks were worth $2,803,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quilter Plc acquired a new stake in shares of Starbucks during the first quarter worth $208,530,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks during the fourth quarter worth $26,000. Riggs Asset Managment Co. Inc. raised 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 worth $29,000 after purchasing an additional 300 shares during the period. Atticus Wealth Management LLC raised 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 worth $32,000 after purchasing an additional 200 shares during the period. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Starbucks during the second quarter worth $35,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders sold a total of 4,000 shares of company stock valued at $375,665 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SBUX. Gordon Haskett downgraded Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a report on Tuesday, January 16th. 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 report on Tuesday, March 19th. Piper Sandler lowered their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Barclays lowered their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Finally, HSBC began coverage on Starbucks in a research note on Wednesday, December 20th. They issued a “hold” rating and a $107.00 target price on the stock. Thirteen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average price target of $107.43.

Starbucks Price Performance

Shares of NASDAQ SBUX traded up $0.28 during trading hours on Wednesday, hitting $85.70. 1,021,288 shares of the company’s stock were exchanged, compared to its average volume of 8,288,898. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48. The stock has a market capitalization of $97.03 billion, a price-to-earnings ratio of 22.84, a PEG ratio of 1.36 and a beta of 0.97. The company’s 50-day moving average price is $91.51 and its 200-day moving average price is $94.53.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data 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). 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%. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.75 EPS. On average, research analysts expect that Starbucks Co. will post 4.04 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders 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 2.66%. Starbucks’s dividend payout ratio (DPR) is 60.96%.

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.