Franklin Street Advisors Inc. NC Sells 34,878 Shares of Starbucks Co. (NASDAQ:SBUX)

Franklin Street Advisors Inc. NC cut its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 13.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 216,434 shares of the coffee company's stock after selling 34,878 shares during the quarter. Starbucks accounts for about 1.7% of Franklin Street Advisors Inc. NC's portfolio, making the stock its 22nd biggest position. Franklin Street Advisors Inc. NC's holdings in Starbucks were worth $20,780,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SBUX. Freedom Wealth Alliance LLC purchased a new stake in shares of Starbucks in the fourth quarter worth $26,000. Riggs Asset Managment Co. Inc. grew its stake 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 worth $29,000 after purchasing an additional 300 shares during the last quarter. Atticus Wealth Management LLC grew its stake 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 worth $32,000 after purchasing an additional 200 shares during the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of Starbucks in the second quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the first quarter worth about $37,000. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on SBUX shares. Wedbush reissued a "neutral" rating and issued a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. HSBC began coverage on Starbucks in a research report on Wednesday, December 20th. They set a "hold" rating and a $107.00 price objective for the company. Gordon Haskett downgraded shares of Starbucks from a "buy" rating to a "hold" rating and set a $100.00 target price on the stock. in a research report on Tuesday, January 16th. Piper Sandler lowered their price target on shares of Starbucks from $107.00 to $100.00 and set a "neutral" rating for the company in a research report on Friday, January 19th. Finally, TD Cowen reissued a "market perform" rating and set a $102.00 price objective on shares of Starbucks in a research note on Tuesday, March 19th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $110.05.

Starbucks Trading Down 0.1 %

Shares of SBUX stock traded down $0.11 during mid-day trading on Friday, reaching $91.39. The stock had a trading volume of 6,784,293 shares, compared to its average volume of 7,835,503. The business's fifty day moving average is $93.00 and its 200-day moving average is $95.14. The firm has a market cap of $103.47 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 1.46 and a beta of 0.98. Starbucks Co. has a 1-year low of $89.21 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm's revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. On average, analysts forecast 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. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, May 16th. Starbucks's dividend payout ratio is presently 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 4,000 shares of company stock worth $375,665 over the last quarter. 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.