Raymond James Financial Services Advisors Inc. Has $69.05 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Raymond James Financial Services Advisors Inc. cut its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 755,562 shares of the coffee company's stock after selling 46,346 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.07% of Starbucks worth $69,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Orca Investment Management LLC increased its position in Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company's stock worth $719,000 after buying an additional 466 shares during the last quarter. Cerity Partners LLC increased its position in Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company's stock worth $148,567,000 after buying an additional 1,281,471 shares during the last quarter. Metis Global Partners LLC increased its position in Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company's stock worth $5,197,000 after buying an additional 7,619 shares during the last quarter. Tyche Wealth Partners LLC acquired a new position in Starbucks during the fourth quarter worth $794,000. Finally, Insigneo Advisory Services LLC increased its position in Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company's stock worth $864,000 after buying an additional 3,570 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. Citigroup lowered their target price on shares of Starbucks from $95.00 to $85.00 and set a "neutral" rating on the stock in a research report on Wednesday. Stephens restated an "equal weight" rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. BMO Capital Markets decreased their price target on shares of Starbucks from $125.00 to $120.00 and set an "outperform" rating for the company in a report on Wednesday, January 31st. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $100.00 to $92.00 and set an "overweight" rating for the company in a report on Wednesday. Finally, Gordon Haskett cut shares of Starbucks from a "buy" rating to a "hold" rating and set a $100.00 price target for the company. in a report on Tuesday, January 16th. Sixteen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $100.39.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm's stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company's stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $14.05 during mid-day trading on Wednesday, hitting $74.44. 66,303,717 shares of the stock were exchanged, compared to its average volume of 9,144,704. The company has a market cap of $84.28 billion, a P/E ratio of 19.90, a PEG ratio of 1.49 and a beta of 0.97. The stock's fifty day simple moving average is $89.76 and its two-hundred day simple moving average is $94.11. Starbucks Co. has a twelve month low of $72.67 and a twelve month high of $114.56.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts' consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.74 EPS. As a group, equities research analysts predict that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid 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 3.06%. Starbucks's payout ratio is presently 60.96%.

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.

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