Cornerstone Advisory LLC Sells 612 Shares of Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

Cornerstone Advisory LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 16.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 3,105 shares of the coffee company’s stock after selling 612 shares during the period. Cornerstone Advisory LLC’s holdings in Starbucks were worth $283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Financial Life Planners bought a new stake in Starbucks during the 4th quarter worth about $25,000. Graney & King LLC acquired a new position in shares of Starbucks during the fourth quarter worth approximately $26,000. Collier Financial bought a new stake in shares of Starbucks during the fourth quarter valued at approximately $27,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. Finally, Marshall Investment Management LLC bought a new position in Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on SBUX shares. The Goldman Sachs Group cut Starbucks from a “buy” rating to a “neutral” rating and lowered their target price for the company from $103.00 to $85.00 in a research note on Wednesday, April 30th. Wells Fargo & Company lowered their price objective on Starbucks from $125.00 to $100.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. UBS Group cut their target price on shares of Starbucks from $105.00 to $90.00 and set a “neutral” rating on the stock in a research report on Monday, April 28th. BMO Capital Markets lowered their price target on shares of Starbucks from $115.00 to $100.00 and set an “outperform” rating for the company in a research report on Wednesday, April 30th. Finally, Jefferies Financial Group upgraded shares of Starbucks from an “underperform” rating to a “hold” rating and set a $76.00 price objective on the stock in a report on Wednesday, April 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus target price of $98.72.

View Our Latest Analysis on SBUX

Starbucks Price Performance

Shares of Starbucks stock opened at $83.97 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46. The company has a market capitalization of $95.42 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.99. The business has a 50-day moving average of $87.06 and a two-hundred day moving average of $96.13.

Starbucks (NASDAQ:SBUX – Get Free Report) last announced its earnings results on Tuesday, April 29th. The coffee company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.10). The company had revenue of $8.76 billion for the quarter, compared to analyst estimates of $8.90 billion. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $0.68 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 2.99 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 2.91%. Starbucks’s dividend payout ratio is currently 88.41%.

Starbucks Profile

(Free Report)

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.

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