Resonant Capital Advisors LLC Has $1.86 Million Position in Starbucks Co. (NASDAQ:SBUX)

Resonant Capital Advisors LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,370 shares of the coffee company’s stock after selling 198 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Starbucks were worth $1,860,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Beaumont Financial Advisors LLC boosted its stake in Starbucks by 5.2% in the 4th quarter. Beaumont Financial Advisors LLC now owns 4,581 shares of the coffee company’s stock valued at $440,000 after purchasing an additional 226 shares during the period. Cutler Investment Counsel LLC boosted its stake in Starbucks by 2.1% in the 4th quarter. Cutler Investment Counsel LLC now owns 12,842 shares of the coffee company’s stock valued at $1,233,000 after purchasing an additional 258 shares during the period. HTLF Bank bought a new stake in Starbucks in the 4th quarter valued at $5,341,000. Lafayette Investments Inc. boosted its stake in Starbucks by 2.5% in the 4th quarter. Lafayette Investments Inc. now owns 63,373 shares of the coffee company’s stock valued at $6,084,000 after purchasing an additional 1,530 shares during the period. Finally, Fidelis Capital Partners LLC boosted its stake in Starbucks by 35.7% in the 4th quarter. Fidelis Capital Partners LLC now owns 9,365 shares of the coffee company’s stock valued at $899,000 after purchasing an additional 2,462 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on SBUX. Citigroup reduced their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Morgan Stanley cut their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. BMO Capital Markets cut their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. TD Cowen reiterated a “hold” rating and set a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Finally, Stephens reiterated an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $106.68.

Starbucks Stock Up 0.5 %

Shares of SBUX opened at $87.61 on Friday. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The business has a 50-day simple moving average of $90.94 and a two-hundred day simple moving average of $94.39. The stock has a market cap of $99.19 billion, a PE ratio of 23.43, a PEG ratio of 1.41 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company earned $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. On average, equities research analysts expect that Starbucks Co. will post 4.03 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.60%. Starbucks’s payout ratio is 60.96%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value 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 $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last quarter, insiders sold 7,250 shares of company stock valued at $653,183. Company insiders own 1.98% of the company’s stock.

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.