Lee Danner & Bass Inc. Has $4.30 Million Position in Starbucks Co. (NASDAQ:SBUX)

Lee Danner & Bass Inc. lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 44,772 shares of the coffee company’s stock after selling 1,135 shares during the quarter. Lee Danner & Bass Inc.’s holdings in Starbucks were worth $4,299,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Riggs Asset Managment Co. Inc. lifted its stake 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 valued at $29,000 after acquiring an additional 300 shares during the period. Atticus Wealth Management LLC lifted its stake in shares of Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. Tennessee Valley Asset Management Partners acquired a new position in shares of Starbucks during the fourth quarter valued at $38,000. Financial Connections Group Inc. acquired a new position in shares of Starbucks during the fourth quarter valued at $38,000. Finally, Fortitude Family Office LLC acquired a new position in shares of Starbucks during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SBUX shares. Robert W. Baird dropped their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a report on Monday, March 18th. TD Cowen reiterated a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a report on Thursday, April 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $102.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. Stifel Nicolaus lowered their price target on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a report on Thursday, April 11th. Finally, BMO Capital Markets lowered their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $106.68.

Insiders Place Their Bets

In other news, insider Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at approximately $7,912,906.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 7,000 shares of company stock worth $629,738 in the last 90 days. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.5 %

Shares of SBUX traded up $0.42 during mid-day trading on Monday, reaching $88.03. The company’s stock had a trading volume of 3,313,864 shares, compared to its average volume of 8,386,571. The stock has a market cap of $99.67 billion, a P/E ratio of 23.51, a PEG ratio of 1.42 and a beta of 0.97. The business has a 50-day simple moving average of $90.94 and a two-hundred day simple moving average of $94.45. Starbucks Co. has a 1-year low of $84.29 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. Research analysts anticipate that Starbucks Co. will post 4.01 EPS for the current year.

Starbucks Announces Dividend

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 paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.