1900 Wealth Management LLC Sells 640 Shares of Starbucks Co. (NASDAQ:SBUX)

1900 Wealth Management LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 22.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,256 shares of the coffee company’s stock after selling 640 shares during the period. 1900 Wealth Management LLC’s holdings in Starbucks were worth $217,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. boosted its stake in Starbucks by 1,578.9% in the 3rd 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 period. Atticus Wealth Management LLC boosted its stake in Starbucks by 153.8% in the 4th 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 period. Financial Connections Group Inc. acquired a new position in Starbucks in the 4th quarter worth $38,000. Tennessee Valley Asset Management Partners acquired a new position in Starbucks in the 4th quarter worth $38,000. Finally, Fortitude Family Office LLC acquired a new position in Starbucks in the 4th quarter worth $40,000. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research note on Tuesday, March 19th. Wedbush reissued a “neutral” rating and issued a $95.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Barclays lowered their price target on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. TD Cowen reissued a “hold” rating and issued a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. Finally, Guggenheim lowered their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $106.68.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $87.87 on Wednesday. The company’s 50 day simple moving average is $90.68 and its 200 day simple moving average is $94.39. The stock has a market capitalization of $99.49 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 1.44 and a beta of 0.97. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) 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 the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. As a group, analysts anticipate that Starbucks Co. will post 3.99 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. Shareholders 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 currently 60.96%.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were 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 is accessible through this link. Insiders have sold 7,000 shares of company stock worth $629,738 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

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.