Delta Financial Advisors LLC Cuts Position in Starbucks Co. (NASDAQ:SBUX)

Delta Financial Advisors LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 0.6% during the fourth quarter, HoldingsChannel reports. The fund owned 19,388 shares of the coffee company’s stock after selling 116 shares during the quarter. Delta Financial Advisors LLC’s holdings in Starbucks were worth $1,861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quilter Plc purchased a new position in shares of Starbucks in the 1st quarter valued at $208,530,000. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks in the 4th quarter worth $26,000. Riggs Asset Managment Co. Inc. boosted its position in shares of Starbucks by 1,578.9% in the 3rd 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 in the last quarter. Atticus Wealth Management LLC boosted its position in shares of Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Starbucks in the 2nd quarter worth $35,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business’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 transaction of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 7,250 shares of company stock worth $653,183 in the last 90 days. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.7 %

Shares of NASDAQ SBUX traded up $0.64 during trading on Thursday, reaching $86.85. 3,192,898 shares of the company traded hands, compared to its average volume of 8,297,180. The firm’s fifty day simple moving average is $91.33 and its 200 day simple moving average is $94.47. The stock has a market cap of $98.33 billion, a P/E ratio of 23.05, a PEG ratio of 1.37 and a beta of 0.97. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced 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 net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 4.03 EPS for the current year.

Starbucks Dividend Announcement

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 paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.63%. Starbucks’s dividend payout ratio is presently 60.96%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BTIG Research lowered their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Stephens reissued an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, January 31st. Morgan Stanley lowered their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Finally, HSBC started coverage on Starbucks in a research report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective for the company. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Hold” and a consensus price target 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.