Sigma Planning Corp Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Sigma Planning Corp cut its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 48.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,794 shares of the coffee company’s stock after selling 15,681 shares during the quarter. Sigma Planning Corp’s holdings in Starbucks were worth $1,612,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SBUX. Cerity Partners LLC lifted its position in Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after purchasing an additional 1,281,471 shares during the period. Metis Global Partners LLC lifted its position in Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after purchasing an additional 7,619 shares during the period. Tyche Wealth Partners LLC acquired a new position in Starbucks during the fourth quarter valued at $794,000. Insigneo Advisory Services LLC lifted its position in Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after purchasing an additional 3,570 shares during the period. Finally, Motco lifted its position in Starbucks by 1.1% during the third quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after purchasing an additional 811 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 7,000 shares of company stock valued at $629,738. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.5 %

Shares of NASDAQ SBUX opened at $87.61 on Monday. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The stock has a market cap of $99.19 billion, a PE ratio of 23.43, a P/E/G ratio of 1.42 and a beta of 0.97. The company has a 50-day moving average of $90.94 and a 200 day moving average of $94.45.

Starbucks (NASDAQ:SBUXGet Free Report) last announced 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). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company posted $0.75 EPS. The firm’s revenue was up 8.2% on a year-over-year basis. On average, sell-side analysts forecast that Starbucks Co. will post 4.01 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid 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 yield of 2.60%. Starbucks’s dividend payout ratio is presently 60.96%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. TD Cowen reiterated a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a research report on Thursday, April 11th. Jefferies Financial Group decreased their price objective on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Stifel Nicolaus decreased their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Friday. Finally, Robert W. Baird decreased their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $106.68.

Read Our Latest Analysis on Starbucks

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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