Avalon Trust Co Has $309,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Avalon Trust Co boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,216 shares of the coffee company’s stock after buying an additional 316 shares during the period. Avalon Trust Co’s holdings in Starbucks were worth $309,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares in the last quarter. Cypress Capital Management LLC WY boosted its position in Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Atticus Wealth Management LLC lifted its holdings in shares of Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Evolution Advisers Inc. bought a new stake in Starbucks in the fourth quarter worth approximately $36,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Starbucks during the 4th quarter worth $38,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In other 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 transaction 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 $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 7,250 shares of company stock valued at $651,738 in the last three months. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Down 2.4 %

Shares of NASDAQ:SBUX traded down $1.82 during mid-day trading on Friday, reaching $73.11. 22,153,770 shares of the stock were exchanged, compared to its average volume of 12,042,146. The stock’s 50 day simple moving average is $88.89 and its 200-day simple moving average is $93.84. Starbucks Co. has a one year low of $72.67 and a one year high of $108.12. The company has a market cap of $82.81 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.39 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the business earned $0.74 earnings per share. Starbucks’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts anticipate that Starbucks Co. will post 3.69 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Analyst Ratings Changes

Several research firms have weighed in on SBUX. Stifel Nicolaus cut their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. UBS Group decreased their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday. Piper Sandler lowered their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, January 19th. Evercore ISI cut their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research note on Friday. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $97.09.

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.