B. Riley Wealth Advisors Inc. Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

B. Riley Wealth Advisors Inc. lowered its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 11.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,004 shares of the coffee company's stock after selling 5,606 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Starbucks were worth $4,107,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Strategic Financial Concepts LLC acquired a new position in shares of Starbucks in the fourth quarter valued at approximately $62,000. Arizona State Retirement System grew its holdings in shares of Starbucks by 0.8% in the fourth quarter. Arizona State Retirement System now owns 327,459 shares of the coffee company's stock valued at $29,881,000 after purchasing an additional 2,722 shares in the last quarter. West Michigan Advisors LLC acquired a new position in Starbucks during the 4th quarter worth approximately $265,000. Wernau Asset Management Inc. acquired a new position in Starbucks during the 4th quarter worth approximately $258,000. Finally, Vanguard Capital Wealth Advisors acquired a new position in Starbucks during the 4th quarter worth approximately $285,000. Institutional investors and hedge funds own 72.29% of the company's stock.

Starbucks Trading Down 0.4%

Shares of Starbucks stock traded down $0.37 during mid-day trading on Friday, hitting $83.68. 7,391,512 shares of the stock were exchanged, compared to its average volume of 11,120,093. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $117.46. The stock has a market capitalization of $95.09 billion, a price-to-earnings ratio of 26.99, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The company has a 50-day simple moving average of $85.54 and a 200 day simple moving average of $95.58.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same period in the prior year, the business earned $0.68 earnings per share. Starbucks's revenue for the quarter was up 2.3% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were given a $0.61 dividend. The ex-dividend date was Friday, May 16th. This represents a $2.44 annualized dividend and a dividend yield of 2.92%. Starbucks's dividend payout ratio is presently 88.41%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Guggenheim lowered their price target on shares of Starbucks from $95.00 to $83.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Wall Street Zen cut shares of Starbucks from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Wells Fargo & Company lowered their target price on shares of Starbucks from $125.00 to $100.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group upgraded shares of Starbucks from an "underperform" rating to a "hold" rating and set a $76.00 price target for the company in a research report on Wednesday, April 9th. Finally, BMO Capital Markets cut their price objective on shares of Starbucks from $115.00 to $100.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $97.92.

Starbucks Company 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.