Brown Advisory Inc. Sells 4,675 Shares of Starbucks Co. (NASDAQ:SBUX)

Brown Advisory Inc. lessened its position in Starbucks Co. (NASDAQ:SBUX) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 480,931 shares of the coffee company’s stock after selling 4,675 shares during the quarter. Brown Advisory Inc.’s holdings in Starbucks were worth $46,174,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Riggs Asset Managment Co. Inc. lifted its stake in 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 purchasing an additional 300 shares during the last quarter. Cypress Capital Management LLC WY boosted its holdings in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the period. Atticus Wealth Management LLC grew its position in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Evolution Advisers Inc. bought a new position in Starbucks during the 4th quarter worth approximately $36,000. Finally, Financial Connections Group Inc. purchased a new position in Starbucks in the 4th quarter worth approximately $38,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Robert W. Baird cut their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Wells Fargo & Company decreased their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Citigroup lowered their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Wedbush cut their target price on Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th. Finally, Barclays lowered their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $96.43.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 4,000 shares of company stock worth $346,140 in the last three months. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 3.4 %

NASDAQ:SBUX traded up $2.57 during trading hours on Friday, reaching $77.85. 14,436,465 shares of the company traded hands, compared to its average volume of 16,223,576. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The stock has a market capitalization of $88.18 billion, a P/E ratio of 21.45, a P/E/G ratio of 1.68 and a beta of 0.97. The business’s 50-day moving average price is $85.38 and its two-hundred day moving average price is $92.55.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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). The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Starbucks Company 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.