Fulton Breakefield Broenniman LLC Sells 394 Shares of Starbucks Co. (NASDAQ:SBUX)

Fulton Breakefield Broenniman LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,849 shares of the coffee company’s stock after selling 394 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Starbucks were worth $274,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its position 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 in the last quarter. Atticus Wealth Management LLC raised its position in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Evolution Advisers Inc. acquired a new position in Starbucks in the fourth quarter worth about $36,000. Financial Connections Group Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $38,000. Finally, Tennessee Valley Asset Management Partners acquired a new stake in shares of Starbucks during the fourth quarter worth approximately $38,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Stifel Nicolaus dropped their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Barclays dropped their price objective on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a report on Wednesday, January 31st. Robert W. Baird dropped their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $106.55.

Starbucks Stock Up 0.5 %

SBUX traded up $0.41 during trading on Friday, hitting $88.25. The company had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. The company has a market capitalization of $99.92 billion, a PE ratio of 23.60, a PEG ratio of 1.48 and a beta of 0.97. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The firm’s 50-day moving average price is $90.36 and its 200 day moving average price is $94.27.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the firm posted $0.75 earnings per share. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. Sell-side analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be paid 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 dividend yield of 2.58%. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 in the last ninety days. 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.