Starbucks Co. (NASDAQ:SBUX) Shares Sold by Octavia Wealth Advisors LLC

Octavia Wealth Advisors LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 3,900 shares of the coffee company’s stock after selling 270 shares during the period. Octavia Wealth Advisors LLC’s holdings in Starbucks were worth $383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. University of Texas Texas AM Investment Management Co. purchased a new position in shares of Starbucks in the fourth quarter valued at approximately $25,000. Graney & King LLC purchased a new position in Starbucks in the 4th quarter valued at $26,000. Collier Financial acquired a new stake in Starbucks during the 4th quarter worth $27,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of Starbucks during the fourth quarter worth $27,000. Finally, Marshall Investment Management LLC purchased a new stake in shares of Starbucks during the fourth quarter worth $30,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SBUX shares. BMO Capital Markets lowered their price target on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Baird R W cut Starbucks from a “strong-buy” rating to a “hold” rating in a report on Monday, April 7th. Barclays cut their price target on Starbucks from $106.00 to $98.00 and set an “overweight” rating for the company in a report on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on Starbucks from $125.00 to $100.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. Finally, TD Cowen restated a “hold” rating and issued a $90.00 target price on shares of Starbucks in a report on Thursday, May 29th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $97.92.

Starbucks Stock Performance

Shares of SBUX stock opened at $89.64 on Monday. The firm has a market cap of $101.87 billion, a P/E ratio of 28.92, a P/E/G ratio of 3.59 and a beta of 1.00. The firm’s 50 day moving average price is $84.45 and its 200-day moving average price is $95.14. Starbucks Co. has a one year low of $71.55 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.10). Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The firm had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, research analysts predict that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.72%. The ex-dividend date was Friday, May 16th. Starbucks’s dividend payout ratio is currently 88.41%.

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.