Heritage Wealth Advisors Has $780,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Heritage Wealth Advisors reduced its position in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 8.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,122 shares of the coffee company’s stock after selling 769 shares during the period. Heritage Wealth Advisors’ holdings in Starbucks were worth $780,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at about $27,000. Riggs Asset Managment Co. Inc. grew its position in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Cypress Capital Management LLC WY increased its stake in shares of Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares during the period. Atticus Wealth Management LLC increased its position in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 200 shares during the period. Finally, Evolution Advisers Inc. acquired a new position in shares of Starbucks in the 4th quarter worth approximately $36,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was 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 owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,750 shares of company stock valued at $642,050. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent analyst reports. Stephens restated an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Wedbush reduced their target price on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. HSBC reduced their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. TD Cowen reduced their price objective on Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, Evercore ISI reduced their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and a consensus price target of $96.43.

View Our Latest Stock Analysis on Starbucks

Starbucks Price Performance

SBUX stock traded up $0.56 during mid-day trading on Monday, hitting $78.87. 10,746,100 shares of the stock were exchanged, compared to its average volume of 10,282,153. The business has a fifty day moving average price of $84.08 and a 200 day moving average price of $91.70. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66. The stock has a market capitalization of $89.34 billion, a price-to-earnings ratio of 21.73, a PEG ratio of 1.72 and a beta of 0.97.

Starbucks (NASDAQ:SBUXGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period last year, the firm earned $0.74 EPS. The company’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.59 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. Stockholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Starbucks Profile

(Free Report)

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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