Catalyst Financial Partners LLC Sells 655 Shares of Starbucks Co. (NASDAQ:SBUX)

Catalyst Financial Partners LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,198 shares of the coffee company’s stock after selling 655 shares during the period. Catalyst Financial Partners LLC’s holdings in Starbucks were worth $691,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. Cypress Capital Management LLC WY increased 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 worth $31,000 after acquiring an additional 185 shares during the period. Atticus Wealth Management LLC raised its stake in 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 purchasing an additional 200 shares during the last quarter. Evolution Advisers Inc. bought a new stake in Starbucks in the 4th quarter valued at $36,000. Finally, Financial Connections Group Inc. acquired a new stake in Starbucks in the 4th quarter worth $38,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. TD Cowen reduced their price objective on Starbucks from $100.00 to $85.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group lowered their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Piper Sandler cut their price target on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday. Royal Bank of Canada reissued a “sector perform” rating and issued a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Finally, Barclays decreased their price target on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $96.43.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were 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 in the company, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have sold 7,250 shares of company stock valued at $651,738. 1.98% of the stock is currently owned by insiders.

Starbucks Trading Up 3.0 %

Shares of Starbucks stock traded up $2.18 during midday trading on Thursday, reaching $75.68. The company had a trading volume of 18,574,353 shares, compared to its average volume of 9,977,913. The stock has a fifty day simple moving average of $87.64 and a 200 day simple moving average of $93.39. The company has a market capitalization of $85.72 billion, a price-to-earnings ratio of 20.85, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $108.11.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the previous year, the business earned $0.74 earnings per share. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.63 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 3.01%. Starbucks’s dividend payout ratio is currently 62.81%.

About Starbucks

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.