Schechter Investment Advisors LLC Has $1.04 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

Schechter Investment Advisors LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,796 shares of the coffee company’s stock after selling 897 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Starbucks were worth $1,036,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SBUX. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $26,000. Riggs Asset Managment Co. Inc. increased its position 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 worth $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC increased its position in Starbucks by 153.8% in the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. First Capital Advisors Group LLC. acquired a new stake in Starbucks in the 2nd quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SBUX. Piper Sandler lowered their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. HSBC assumed coverage on shares of Starbucks in a research report on Wednesday, December 20th. They set a “hold” rating and a $107.00 price target for the company. JPMorgan Chase & Co. lowered their price target on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, March 19th. Barclays lowered their price target on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Finally, Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Tuesday, January 16th. Twelve investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $110.05.

Starbucks Stock Performance

Shares of SBUX opened at $91.50 on Thursday. Starbucks Co. has a twelve month low of $89.21 and a twelve month high of $115.48. The firm’s 50 day moving average price is $93.05 and its two-hundred day moving average price is $95.19. The firm has a market cap of $103.60 billion, a P/E ratio of 24.47, a PEG ratio of 1.44 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the firm posted $0.75 EPS. The business’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 4.06 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

Insider Activity

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 4,000 shares of company stock worth $375,665 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

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.