Raab & Moskowitz Asset Management LLC Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

Raab & Moskowitz Asset Management LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 18.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,883 shares of the coffee company’s stock after selling 1,838 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Starbucks were worth $757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted 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 valued at $29,000 after purchasing an additional 300 shares during the period. Atticus Wealth Management LLC lifted its stake in 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 acquiring an additional 200 shares during the last quarter. Evolution Advisers Inc. purchased a new position in Starbucks in the fourth quarter worth approximately $36,000. Financial Connections Group Inc. purchased a new position in Starbucks in the fourth quarter worth approximately $38,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in Starbucks in the fourth quarter worth approximately $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. Robert W. Baird decreased their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Wells Fargo & Company restated an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. BMO Capital Markets lowered their target price 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. lowered their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, March 19th. Finally, Stephens restated an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $106.55.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last ninety days. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.5 %

Shares of NASDAQ SBUX opened at $88.25 on Friday. The stock has a market cap of $99.92 billion, a price-to-earnings ratio of 23.60, a PEG ratio of 1.48 and a beta of 0.97. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48. The company’s 50-day moving average price is $90.36 and its 200 day moving average price is $94.28.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business earned $0.75 earnings per share. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.58%. Starbucks’s dividend payout ratio is currently 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.