DDD Partners LLC Sells 475 Shares of Starbucks Co. (NASDAQ:SBUX)

DDD Partners LLC cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,836 shares of the coffee company’s stock after selling 475 shares during the period. DDD Partners LLC’s holdings in Starbucks were worth $656,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Freedom Wealth Alliance LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Riggs Asset Managment Co. Inc. lifted its stake in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Atticus Wealth Management LLC lifted its stake in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. First Capital Advisors Group LLC. bought a new stake in shares of Starbucks during the 2nd quarter worth approximately $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 1st quarter worth approximately $37,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of SBUX opened at $91.50 on Thursday. The stock has a 50-day moving average of $93.05 and a two-hundred day moving average of $95.19. Starbucks Co. has a one year low of $89.21 and a one year high of $115.48. The stock 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 issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company 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 business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the firm earned $0.75 EPS. Analysts predict that Starbucks Co. will post 4.06 EPS for the current fiscal year.

Starbucks Announces Dividend

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 issued a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.49%. Starbucks’s payout ratio is currently 60.96%.

Insider Activity at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have sold 4,000 shares of company stock worth $375,665. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Piper Sandler decreased their price target on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. TD Cowen restated a “market perform” rating and set a $102.00 price objective on shares of Starbucks in a report on Tuesday, March 19th. HSBC initiated coverage on Starbucks in a report on Wednesday, December 20th. They set a “hold” rating and a $107.00 price objective on the stock. Wedbush restated a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Finally, BTIG Research reduced their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Twelve analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus price target of $110.05.

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.