Regent Peak Wealth Advisors LLC Sells 1,057 Shares of Starbucks Co. (NASDAQ:SBUX)

Regent Peak Wealth Advisors LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,538 shares of the coffee company’s stock after selling 1,057 shares during the period. Regent Peak Wealth Advisors LLC’s holdings in Starbucks were worth $543,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. University of Texas Texas AM Investment Management Co. bought a new position in shares of Starbucks in the fourth quarter worth approximately $25,000. Graney & King LLC bought a new position in shares of Starbucks in the fourth quarter worth approximately $26,000. Collier Financial bought a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. Runnymede Capital Advisors Inc. bought a new position in shares of Starbucks in the fourth quarter worth approximately $27,000. Finally, Marshall Investment Management LLC bought a new position in Starbucks during the fourth quarter valued at approximately $30,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 3.0%

NASDAQ:SBUX opened at $89.64 on Friday. The stock has a market cap of $101.87 billion, a P/E ratio of 28.92, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00. The firm’s fifty day simple moving average is $84.45 and its 200 day simple moving average is $95.17. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The firm had revenue of $8.76 billion for the quarter, compared to analysts’ expectations of $8.90 billion. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. The business’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.68 EPS. On average, analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend was Friday, May 16th. Starbucks’s dividend payout ratio is currently 88.41%.

Analyst Ratings Changes

A number of research analysts have commented on SBUX shares. Royal Bank of Canada cut shares of Starbucks from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 29th. Stifel Nicolaus reduced their price target on shares of Starbucks from $103.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, April 30th. Robert W. Baird reiterated a “neutral” rating and set a $85.00 price target (down from $114.00) on shares of Starbucks in a research report on Monday, April 7th. Cowen cut shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Thursday, May 29th. Finally, The Goldman Sachs Group cut shares of Starbucks from a “buy” rating to a “neutral” rating and reduced their price target for the company from $103.00 to $85.00 in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $97.92.

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.