Moss Adams Wealth Advisors LLC Sells 4,531 Shares of Starbucks Co. (NASDAQ:SBUX)

Moss Adams Wealth Advisors LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 40.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,747 shares of the coffee company’s stock after selling 4,531 shares during the period. Moss Adams Wealth Advisors LLC’s holdings in Starbucks were worth $648,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Riggs Asset Managment Co. Inc. grew its stake in shares of Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Cypress Capital Management LLC WY increased its stake in shares of Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Atticus Wealth Management LLC raised its position in shares of Starbucks by 153.8% during the 4th 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 period. Evolution Advisers Inc. purchased a new position in shares of Starbucks during the 4th quarter valued at $36,000. Finally, Tennessee Valley Asset Management Partners bought a new position in Starbucks in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by company insiders.

Starbucks Price Performance

Shares of SBUX traded up $1.00 during midday trading on Wednesday, hitting $73.50. The stock had a trading volume of 24,468,960 shares, compared to its average volume of 9,881,239. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $108.11. The stock’s 50 day moving average is $88.03 and its 200 day moving average is $93.53. The firm has a market cap of $83.25 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the previous year, the business earned $0.74 EPS. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm 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. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.10%. Starbucks’s payout ratio is 62.81%.

Analysts Set New Price Targets

A number of research firms have commented on SBUX. Guggenheim decreased their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. TD Cowen decreased their target price on Starbucks from $100.00 to $85.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. UBS Group dropped their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. BTIG Research reduced their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Finally, DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average price target of $96.43.

Starbucks 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.