Starbucks Co. (NASDAQ:SBUX) Shares Sold by Ocean Capital Management LLC

Ocean Capital Management LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 12,330 shares of the coffee company’s stock after selling 1,333 shares during the period. Starbucks comprises about 0.5% of Ocean Capital Management LLC’s portfolio, making the stock its 23rd largest holding. Ocean Capital Management LLC’s holdings in Starbucks were worth $1,184,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Francis Financial Inc. purchased a new stake in shares of Starbucks during the fourth quarter valued at $214,000. Ritholtz Wealth Management lifted its stake in Starbucks by 6.2% during the fourth quarter. Ritholtz Wealth Management now owns 24,523 shares of the coffee company’s stock valued at $2,354,000 after buying an additional 1,434 shares in the last quarter. Evanson Asset Management LLC boosted its holdings in shares of Starbucks by 6.1% in the fourth quarter. Evanson Asset Management LLC now owns 3,546 shares of the coffee company’s stock worth $340,000 after buying an additional 205 shares during the period. Good Life Advisors LLC increased its position in shares of Starbucks by 6.3% in the fourth quarter. Good Life Advisors LLC now owns 8,400 shares of the coffee company’s stock worth $807,000 after acquiring an additional 500 shares in the last quarter. Finally, Elk River Wealth Management LLC lifted its position in shares of Starbucks by 1.3% in the 4th quarter. Elk River Wealth Management LLC now owns 33,560 shares of the coffee company’s stock valued at $3,222,000 after acquiring an additional 440 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.1 %

NASDAQ SBUX opened at $91.39 on Friday. The company has a market capitalization of $103.47 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.46 and a beta of 0.98. Starbucks Co. has a 1-year low of $89.21 and a 1-year high of $115.48. The stock’s 50 day moving average is $93.04 and its two-hundred day moving average is $95.17.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm 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 company’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.75 EPS. On average, analysts predict that Starbucks Co. will post 4.06 earnings per share for the current 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 dividend on an annualized basis and a dividend yield of 2.49%. Starbucks’s dividend payout ratio is 60.96%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Barclays cut their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Piper Sandler dropped 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. Citigroup decreased their price objective on Starbucks from $103.00 to $102.00 and set a “neutral” rating for the company in a research report on Wednesday, March 13th. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Finally, Morgan Stanley raised Starbucks from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $112.00 to $120.00 in a research note on Tuesday, January 16th. Twelve analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.05.

Insiders Place Their Bets

In other 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 transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders sold 4,000 shares of company stock valued at $375,665. Insiders own 1.98% of the company’s stock.

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.