Leisure Capital Management Sells 2,357 Shares of Starbucks Co. (NASDAQ:SBUX)

Leisure Capital Management cut its stake in Starbucks Co. (NASDAQ:SBUX) by 16.6% in the 4th quarter, Holdings Channel reports. The firm owned 11,832 shares of the coffee company’s stock after selling 2,357 shares during the period. Leisure Capital Management’s holdings in Starbucks were worth $1,136,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Intact Investment Management Inc. raised its holdings in Starbucks by 81.4% in the 4th quarter. Intact Investment Management Inc. now owns 74,000 shares of the coffee company’s stock worth $7,105,000 after purchasing an additional 33,200 shares in the last quarter. Alliance Wealth Advisors LLC UT raised its holdings in Starbucks by 4.3% in the 4th quarter. Alliance Wealth Advisors LLC UT now owns 5,710 shares of the coffee company’s stock worth $548,000 after purchasing an additional 237 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Starbucks by 4.8% in the 4th quarter. Russell Investments Group Ltd. now owns 771,648 shares of the coffee company’s stock worth $74,083,000 after purchasing an additional 35,691 shares in the last quarter. Valmark Advisers Inc. grew its position in shares of Starbucks by 1.1% in the 4th quarter. Valmark Advisers Inc. now owns 10,857 shares of the coffee company’s stock worth $1,042,000 after buying an additional 123 shares during the period. Finally, Citizens Financial Group Inc. RI grew its position in shares of Starbucks by 21.0% in the 4th quarter. Citizens Financial Group Inc. RI now owns 13,681 shares of the coffee company’s stock worth $1,314,000 after buying an additional 2,372 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBUX. Citigroup reduced their target price on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Stephens reaffirmed an “equal weight” rating and issued a $110.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Morgan Stanley reduced their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Barclays reduced their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Finally, Piper Sandler reduced their target price on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, January 19th. Fourteen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $106.55.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders sold 7,250 shares of company stock valued at $651,738. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.5 %

Shares of Starbucks stock traded up $0.41 during trading hours on Friday, reaching $88.25. 7,185,257 shares of the stock traded hands, compared to its average volume of 7,387,159. The company has a 50 day moving average price of $90.36 and a 200 day moving average price of $94.27. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The firm has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given 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 2.58%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.