Adell Harriman & Carpenter Inc. Sells 468 Shares of Starbucks Co. (NASDAQ:SBUX)

Adell Harriman & Carpenter Inc. trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,738 shares of the coffee company’s stock after selling 468 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Starbucks were worth $1,710,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Jmac Enterprises LLC raised its position in shares of Starbucks by 1.0% in the fourth quarter. Jmac Enterprises LLC now owns 9,995 shares of the coffee company’s stock worth $912,000 after buying an additional 103 shares in the last quarter. Aspire Capital Advisors LLC increased its stake in Starbucks by 0.5% in the 4th quarter. Aspire Capital Advisors LLC now owns 23,210 shares of the coffee company’s stock worth $2,118,000 after acquiring an additional 104 shares during the last quarter. Riverview Trust Co raised its holdings in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares in the last quarter. Optas LLC boosted its position in shares of Starbucks by 0.6% during the 4th quarter. Optas LLC now owns 16,711 shares of the coffee company’s stock valued at $1,525,000 after acquiring an additional 105 shares during the last quarter. Finally, Boomfish Wealth Group LLC grew its holdings in shares of Starbucks by 0.7% during the fourth quarter. Boomfish Wealth Group LLC now owns 15,335 shares of the coffee company’s stock worth $1,399,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $112.55 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $113.47. The business’s fifty day moving average is $98.03 and its 200 day moving average is $95.61. The stock has a market capitalization of $127.85 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 3.52 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the firm posted $0.90 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is currently 78.71%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America decreased their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Wedbush raised their price target on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. UBS Group upped their price objective on Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $105.33.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by company insiders.

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.