Winthrop Advisory Group LLC Has $728,000 Position in Starbucks Co. (NASDAQ:SBUX)

Winthrop Advisory Group LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 6.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,969 shares of the coffee company’s stock after selling 529 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Starbucks were worth $728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Starbucks by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after buying an additional 1,041,622 shares during the period. Norges Bank acquired a new stake in Starbucks in the 4th quarter valued at $1,240,652,000. Fisher Asset Management LLC boosted its stake in Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after purchasing an additional 27,496 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock worth $529,147,000 after purchasing an additional 166,010 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. DZ Bank lowered Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research note on Friday, May 3rd. Bank of America upped their price target on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and cut their price target for the company from $108.00 to $89.00 in a research note on Wednesday, May 1st. Evercore ISI dropped their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Guggenheim dropped their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 19th. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus target price of $94.54.

Starbucks Stock Performance

NASDAQ SBUX traded down $1.39 during trading hours on Friday, hitting $77.85. 13,207,542 shares of the company traded hands, compared to its average volume of 10,825,160. The business’s 50-day moving average is $79.66 and its 200-day moving average is $88.02. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The stock has a market capitalization of $88.18 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.70 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $9.12 billion. During the same period last year, the company posted $0.74 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts predict that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.93%. Starbucks’s payout ratio is 62.81%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock valued at $878,893 over the last three months. Insiders own 1.98% of the company’s stock.

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.