FRG Family Wealth Advisors LLC Sells 315 Shares of Starbucks Co. (NASDAQ:SBUX)

FRG Family Wealth Advisors LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 7,282 shares of the coffee company’s stock after selling 315 shares during the quarter. FRG Family Wealth Advisors LLC’s holdings in Starbucks were worth $664,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Strategic Financial Concepts LLC purchased a new stake in Starbucks in the fourth quarter worth $62,000. Arizona State Retirement System raised its position in Starbucks by 0.8% during the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company’s stock valued at $29,881,000 after acquiring an additional 2,722 shares in the last quarter. West Michigan Advisors LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $265,000. Wernau Asset Management Inc. purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $258,000. Finally, OFI Invest Asset Management purchased a new stake in shares of Starbucks during the fourth quarter worth approximately $9,497,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Starbucks stock opened at $85.91 on Thursday. The firm’s 50 day simple moving average is $103.14 and its 200-day simple moving average is $98.92. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $117.46. The company has a market cap of $97.59 billion, a P/E ratio of 27.71, a price-to-earnings-growth ratio of 3.59 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter last year, the company earned $0.90 EPS. On average, analysts expect that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.84%. Starbucks’s dividend payout ratio (DPR) is 78.71%.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent analyst reports. Baird R W lowered Starbucks from a “strong-buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reissued a “neutral” rating and set a $85.00 target price (down previously from $114.00) on shares of Starbucks in a research note on Monday. Wedbush increased their target price on Starbucks from $95.00 to $100.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 29th. Royal Bank of Canada reissued an “outperform” rating and set a $115.00 target price on shares of Starbucks in a research note on Friday, January 24th. Finally, Stifel Nicolaus increased their target price on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $105.12.

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.