Starbucks Co. (NASDAQ:SBUX) Shares Sold by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,754 shares of the coffee company’s stock after selling 372 shares during the period. Levin Capital Strategies L.P.’s holdings in Starbucks were worth $552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Orca Investment Management LLC grew its holdings in shares of Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after buying an additional 466 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after buying an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC grew its holdings in shares of Starbucks by 15.4% during the third quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock worth $5,197,000 after buying an additional 7,619 shares in the last quarter. Tyche Wealth Partners LLC purchased a new stake in shares of Starbucks during the fourth quarter worth $794,000. Finally, Insigneo Advisory Services LLC grew its holdings in shares of Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after buying an additional 3,570 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 0.7 %

Shares of SBUX traded up $0.51 during trading on Thursday, reaching $74.95. The company’s stock had a trading volume of 19,667,355 shares, compared to its average volume of 9,254,788. The company has a fifty day moving average of $89.76 and a two-hundred day moving average of $94.11. Starbucks Co. has a twelve month low of $72.67 and a twelve month high of $109.72. The company has a market cap of $84.86 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.49 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 50.10%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter last year, the firm posted $0.74 earnings per share. Starbucks’s revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.04%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research reports. Jefferies Financial Group dropped their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a report on Wednesday. Stifel Nicolaus dropped their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday. Piper Sandler dropped their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, January 19th. TD Cowen dropped their price objective on shares of Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research report on Tuesday, January 16th. Sixteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.39.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of 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 document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is currently owned by insiders.

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.