Bay Colony Advisory Group Inc d b a Bay Colony Advisors Sells 1,557 Shares of Starbucks Co. (NASDAQ:SBUX)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 23.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,969 shares of the coffee company’s stock after selling 1,557 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Starbucks were worth $477,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Freedom Wealth Alliance LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. Riggs Asset Managment Co. Inc. raised its position in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Atticus Wealth Management LLC raised its position 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 in the last quarter. First Capital Advisors Group LLC. acquired a new position in Starbucks during the second quarter valued at approximately $35,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the first quarter valued at approximately $37,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 0.3 %

Shares of Starbucks stock opened at $85.17 on Tuesday. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The stock has a market cap of $96.43 billion, a price-to-earnings ratio of 22.77, a P/E/G ratio of 1.36 and a beta of 0.98. The company’s fifty day moving average is $91.71 and its 200 day moving average is $94.57.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.75 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 4.05 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 issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.68%. Starbucks’s payout ratio is currently 60.96%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 sale, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders sold 4,000 shares of company stock worth $375,665. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. JPMorgan Chase & Co. lowered their price objective 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 objective 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. BMO Capital Markets lowered their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Finally, TD Cowen reiterated a “hold” rating and set a $100.00 price target on shares of Starbucks in a report on Thursday, April 11th. Twelve analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $107.71.

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.