Schechter Investment Advisors LLC Sells 897 Shares of Starbucks Co. (NASDAQ:SBUX)

Schechter Investment Advisors LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 7.7% in the 4th quarter, according to 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. BCK Partners Inc. bought a new position in shares of Starbucks during the first quarter valued at approximately $2,640,000. American Century Companies Inc. raised its holdings in shares of Starbucks by 7.3% during the first quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after acquiring an additional 1,872 shares in the last quarter. Roundview Capital LLC raised its holdings in shares of Starbucks by 37.5% during the first quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after acquiring an additional 1,952 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Starbucks during the first quarter valued at approximately $198,000. Finally, Mather Group LLC. raised its holdings in shares of Starbucks by 77.5% during the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after acquiring an additional 3,017 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $91.50 on Thursday. The business’s 50 day moving average price is $93.05 and its 200-day moving average price is $95.19. Starbucks Co. has a fifty-two week low of $89.21 and a fifty-two week high of $115.48. The company has a market cap of $103.60 billion, a price-to-earnings ratio of 24.47, a PEG ratio of 1.44 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share 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 business had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the company posted $0.75 earnings per share. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 4.06 earnings per share for the current year.

Starbucks Announces Dividend

The company 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 $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is currently 60.96%.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent analyst reports. Robert W. Baird decreased their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Piper Sandler cut their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Citigroup lowered their price target on Starbucks from $103.00 to $102.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. Morgan Stanley raised Starbucks from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $112.00 to $120.00 in a report on Tuesday, January 16th. Finally, JPMorgan Chase & Co. lowered their price target on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Twelve equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average target price of $110.05.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is currently owned by corporate insiders.

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.