Raub Brock Capital Management LP Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Raub Brock Capital Management LP reduced its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 156,602 shares of the coffee company’s stock after selling 32,911 shares during the quarter. Starbucks makes up about 3.1% of Raub Brock Capital Management LP’s portfolio, making the stock its 21st largest position. Raub Brock Capital Management LP’s holdings in Starbucks were worth $15,035,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new position in Starbucks during the fourth quarter worth $26,000. Riggs Asset Managment Co. Inc. lifted its holdings in shares of 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 in the last quarter. Atticus Wealth Management LLC lifted its holdings in shares of Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. First Capital Advisors Group LLC. purchased a new stake in shares of Starbucks in the second quarter worth about $35,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the first quarter valued at approximately $37,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

NASDAQ:SBUX traded down $0.77 during trading hours on Friday, hitting $86.85. The company had a trading volume of 7,032,444 shares, compared to its average volume of 7,192,057. The company has a market capitalization of $98.33 billion, a PE ratio of 23.22, a price-to-earnings-growth ratio of 1.38 and a beta of 0.97. The stock has a 50-day moving average price of $92.58 and a 200 day moving average price of $94.83. Starbucks Co. has a 52 week low of $86.83 and a 52 week high of $115.48.

Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm 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 business’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.75 EPS. Analysts anticipate that Starbucks Co. will post 4.05 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.63%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is currently 60.96%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SBUX shares. HSBC started coverage on shares of Starbucks in a research note on Wednesday, December 20th. They issued a “hold” rating and a $107.00 target price on the stock. Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, January 16th. Wells Fargo & Company reissued an “overweight” rating and set a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Piper Sandler decreased their price target on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, January 19th. Finally, Stephens reissued an “equal weight” rating and set a $110.00 price target on shares of Starbucks in a research note on Wednesday, January 31st. Twelve investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average target price of $109.24.

Read Our Latest Analysis on Starbucks

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s 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 completion of the transaction, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 4,000 shares of company stock valued at $375,665. 1.98% of the stock is currently owned by company insiders.

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.

See Also

Before you consider Starbucks, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Starbucks wasn’t on the list.

While Starbucks currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here