Schnieders Capital Management LLC Sells 550 Shares of Starbucks Co. (NASDAQ:SBUX)

Schnieders Capital Management LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,083 shares of the coffee company’s stock after selling 550 shares during the quarter. Schnieders Capital Management LLC’s holdings in Starbucks were worth $392,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SBUX. Riggs Asset Managment Co. Inc. boosted its position in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC boosted its position in shares of Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Financial Connections Group Inc. bought a new stake in shares of Starbucks in the fourth quarter valued at about $38,000. Tennessee Valley Asset Management Partners bought a new stake in shares of Starbucks in the fourth quarter valued at about $38,000. Finally, Fortitude Family Office LLC acquired a new position in Starbucks in the fourth quarter valued at about $40,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Robert W. Baird dropped their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. TD Cowen reaffirmed a “hold” rating and issued a $100.00 price target on shares of Starbucks in a research note on Thursday, April 11th. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price target on shares of Starbucks 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 for the company in a research note on Friday, January 19th. Finally, Stifel Nicolaus dropped their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $106.68.

Starbucks Stock Performance

Shares of Starbucks stock traded up $0.88 on Wednesday, reaching $88.75. 7,140,503 shares of the company’s stock were exchanged, compared to its average volume of 8,380,888. The company has a market capitalization of $100.48 billion, a P/E ratio of 23.52, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The firm’s 50-day moving average is $90.68 and its two-hundred day moving average is $94.39.

Starbucks (NASDAQ:SBUX) last posted its quarterly 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 business had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. Starbucks’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. 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 2.57%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last 90 days, insiders sold 7,000 shares of company stock worth $629,738. 1.98% of the stock is currently owned by insiders.

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.