Oak Thistle LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 62.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,154 shares of the coffee company’s stock after selling 13,399 shares during the quarter. Starbucks comprises 0.7% of Oak Thistle LLC’s portfolio, making the stock its 17th biggest holding. Oak Thistle LLC’s holdings in Starbucks were worth $745,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Willow Creek Wealth Management Inc. grew its holdings in Starbucks by 3.0% during the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after buying an additional 97 shares in the last quarter. First National Trust Co lifted its stake in shares of Starbucks by 2.2% in the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after purchasing an additional 106 shares during the last quarter. Quent Capital LLC lifted its stake in shares of Starbucks by 2.8% in the 4th quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock valued at $384,000 after purchasing an additional 108 shares during the last quarter. Graybill Wealth Management LTD. lifted its stake in shares of Starbucks by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after purchasing an additional 109 shares during the last quarter. Finally, Omega Financial Group LLC lifted its stake in shares of Starbucks by 3.2% in the 4th quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock valued at $347,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SBUX. HSBC lowered their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. UBS Group lowered their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Guggenheim lowered their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. JPMorgan Chase & Co. lowered their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Finally, Robert W. Baird decreased their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $94.54.
Starbucks Trading Down 0.9 %
Shares of NASDAQ:SBUX traded down $0.72 on Monday, reaching $77.13. The company had a trading volume of 6,763,647 shares, compared to its average volume of 10,416,702. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The firm’s 50 day simple moving average is $79.66 and its 200-day simple moving average is $87.95. The firm has a market capitalization of $87.37 billion, a PE ratio of 21.27, a PEG ratio of 1.70 and a beta of 0.94.
Starbucks (NASDAQ:SBUX – Get Free Report) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the prior year, the business posted $0.74 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts predict that Starbucks Co. will post 3.59 earnings per share for the current year.
Starbucks Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.96%. Starbucks’s dividend payout ratio (DPR) is 62.81%.
Insider Buying and Selling
In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock worth $878,893 in the last ninety days. 1.98% of the stock is owned by insiders.
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.
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