Waycross Partners LLC Has $11.99 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Waycross Partners LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 11.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,899 shares of the coffee company’s stock after selling 16,674 shares during the period. Starbucks accounts for 2.2% of Waycross Partners LLC’s portfolio, making the stock its 17th largest holding. Waycross Partners LLC’s holdings in Starbucks were worth $11,992,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Riggs Asset Managment Co. Inc. increased its holdings in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Cypress Capital Management LLC WY grew its holdings in Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Atticus Wealth Management LLC grew its holdings in Starbucks by 153.8% during the fourth 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 last quarter. Evolution Advisers Inc. acquired a new position in Starbucks during the fourth quarter valued at approximately $36,000. Finally, Financial Connections Group Inc. acquired a new position in Starbucks during the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SBUX shares. TD Cowen reiterated a “hold” rating and set a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. Stifel Nicolaus lowered their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. BMO Capital Markets lowered their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 31st. Robert W. Baird lowered their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Finally, Guggenheim lowered their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $106.55.

Starbucks Stock Up 0.2 %

Shares of SBUX traded up $0.16 on Tuesday, hitting $88.49. The company’s stock had a trading volume of 14,368,134 shares, compared to its average volume of 8,439,514. The firm’s fifty day moving average price is $90.17 and its 200-day moving average price is $94.25. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The firm has a market capitalization of $100.19 billion, a price-to-earnings ratio of 23.66, a P/E/G ratio of 1.48 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.13). The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.74 EPS. As a group, equities analysts predict that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

About Starbucks

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.