Schechter Investment Advisors LLC Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Schechter Investment Advisors LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,796 shares of the coffee company’s stock after selling 897 shares during the period. Schechter Investment Advisors LLC’s holdings in Starbucks were worth $1,036,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SBUX. Freedom Wealth Alliance LLC acquired a new position in Starbucks in the fourth quarter valued at approximately $26,000. Riggs Asset Managment Co. Inc. lifted its stake in Starbucks by 1,578.9% during the third 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 lifted its stake in Starbucks by 153.8% during the fourth 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. First Capital Advisors Group LLC. acquired a new position in Starbucks during the second quarter worth $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the first quarter worth $37,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Up 1.3 %

NASDAQ SBUX opened at $91.50 on Thursday. Starbucks Co. has a 52-week low of $89.21 and a 52-week high of $115.48. The business’s 50-day moving average price is $93.05 and its 200 day moving average price is $95.19. The firm has a market cap of $103.60 billion, a P/E ratio of 24.47, a P/E/G ratio of 1.44 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released 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 company had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business earned $0.75 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Co. will post 4.06 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. Starbucks’s payout ratio is currently 60.96%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Robert W. Baird decreased their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Stephens reiterated an “equal weight” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. Citigroup reduced their price objective on Starbucks from $103.00 to $102.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 13th. Finally, StockNews.com cut Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Twelve 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, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $110.05.

Insider Activity at Starbucks

In related news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 4,000 shares of company stock worth $375,665 over the last 90 days. 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.