Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA trimmed its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 915,486 shares of the coffee company's stock after selling 8,536 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 0.08% of Starbucks worth $85,168,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. grew 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 buying an additional 300 shares during the period. Atticus Wealth Management LLC grew 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 buying an additional 200 shares during the period. Financial Connections Group Inc. acquired a new position in shares of Starbucks during the fourth quarter worth $38,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Starbucks during the fourth quarter worth $38,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Starbucks during the fourth quarter worth $40,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company's stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company's stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 7,000 shares of company stock worth $629,738 in the last 90 days. Corporate insiders own 1.98% of the company's stock.

Starbucks Stock Performance

Shares of Starbucks stock traded up $0.57 during trading on Monday, hitting $88.18. 8,608,142 shares of the stock were exchanged, compared to its average volume of 8,459,721. The stock's fifty day moving average is $90.80 and its 200 day moving average is $94.42. The stock has a market cap of $99.84 billion, a PE ratio of 23.58, a P/E/G ratio of 1.42 and a beta of 0.97. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm's revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 EPS. Sell-side analysts anticipate that Starbucks Co. will post 4.01 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced 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 is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. Starbucks's dividend payout ratio is presently 60.96%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SBUX. Robert W. Baird reduced their target price on shares of Starbucks from $106.00 to $100.00 and set a "neutral" rating on the stock in a research report on Monday, March 18th. Gordon Haskett cut 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. Barclays reduced their target price on shares of Starbucks from $116.00 to $112.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 31st. Citigroup reduced their target price on shares of Starbucks from $102.00 to $95.00 and set a "neutral" rating on the stock in a research report on Friday, April 12th. Finally, TD Cowen reaffirmed a "hold" rating and issued a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. Fourteen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $106.68.

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.

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