Schechter Investment Advisors LLC Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Schechter Investment Advisors LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,796 shares of the coffee company’s stock after selling 897 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Starbucks were worth $1,036,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Bar Harbor Wealth Management grew its holdings in shares of Starbucks by 13.7% during the fourth quarter. Bar Harbor Wealth Management now owns 29,657 shares of the coffee company’s stock worth $2,847,000 after purchasing an additional 3,565 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $218,000. Powers Advisory Group LLC grew its holdings in shares of Starbucks by 1.9% during the fourth quarter. Powers Advisory Group LLC now owns 7,282 shares of the coffee company’s stock worth $699,000 after buying an additional 133 shares during the last quarter. Blackston Financial Advisory Group LLC purchased a new position in shares of Starbucks during the fourth quarter worth about $273,000. Finally, Atticus Wealth Management LLC grew its holdings in shares of Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $91.50 on Thursday. The stock has a market capitalization of $103.60 billion, a P/E ratio of 24.47, a PEG ratio of 1.44 and a beta of 0.98. Starbucks Co. has a one year low of $89.21 and a one year high of $115.48. The company has a 50 day moving average price of $93.05 and a two-hundred day moving average price of $95.19.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. Research analysts forecast that Starbucks Co. will post 4.06 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders 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 2.49%. Starbucks’s dividend payout ratio is presently 60.96%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SBUX. Wedbush reissued a “neutral” rating and set a $95.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Robert W. Baird lowered their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Stephens reissued an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $102.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Finally, BTIG Research reduced their price objective on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Twelve research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $110.05.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now directly owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 4,000 shares of company stock valued at $375,665 in the last ninety days. Company insiders own 1.98% of the company’s stock.

Starbucks Company Profile

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.