Archer Investment Corp Sells 179 Shares of Starbucks Co. (NASDAQ:SBUX)

Archer Investment Corp cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 5.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,933 shares of the coffee company’s stock after selling 179 shares during the period. Archer Investment Corp’s holdings in Starbucks were worth $282,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. increased its holdings in shares of Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the period. Investment Advisory Services Inc. TX ADV increased its stake in Starbucks by 0.7% in the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock valued at $1,408,000 after acquiring an additional 100 shares during the last quarter. Valley Brook Capital Group Inc. increased its stake in Starbucks by 2.4% in the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after acquiring an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. increased its stake in Starbucks by 4.6% in the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after acquiring an additional 100 shares during the last quarter. Finally, Herold Advisors Inc. increased its stake in Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock valued at $221,000 after acquiring an additional 100 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 7,250 shares of company stock worth $653,183 over the last three months. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on SBUX shares. Robert W. Baird reduced their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Jefferies Financial Group reduced their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday. HSBC began coverage on shares of Starbucks in a research report on Wednesday, December 20th. They set a “hold” rating and a $107.00 price target for the company. TD Cowen restated a “hold” rating and set a $100.00 price target on shares of Starbucks in a research report on Thursday, April 11th. Finally, BTIG Research cut their price target on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. Thirteen equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has an average rating of “Hold” and a consensus target price of $107.43.

Starbucks Trading Up 0.9 %

Starbucks stock opened at $86.21 on Thursday. The firm has a 50-day moving average of $91.33 and a 200-day moving average of $94.47. The firm has a market cap of $97.61 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.37 and a beta of 0.97. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the company posted $0.75 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Research analysts forecast that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders 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 2.64%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.