Sequoia Financial Advisors LLC Sells 13,454 Shares of Starbucks Co. (NASDAQ:SBUX)

Sequoia Financial Advisors LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 13.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 87,354 shares of the coffee company’s stock after selling 13,454 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Starbucks were worth $7,983,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SBUX. Riggs Asset Managment Co. Inc. grew its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in Starbucks by 3.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 439,600 shares of the coffee company’s stock worth $40,124,000 after acquiring an additional 16,446 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in Starbucks during the 3rd quarter worth about $300,000. Crestwood Advisors Group LLC grew its holdings in Starbucks by 7.8% during the 3rd quarter. Crestwood Advisors Group LLC now owns 63,360 shares of the coffee company’s stock worth $5,783,000 after acquiring an additional 4,583 shares during the last quarter. Finally, Tenere Capital LLC grew its holdings in Starbucks by 13.7% during the 3rd quarter. Tenere Capital LLC now owns 85,393 shares of the coffee company’s stock worth $7,794,000 after acquiring an additional 10,293 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock valued at $878,893 in the last ninety days. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

NASDAQ SBUX traded down $0.21 during trading hours on Friday, reaching $76.05. 9,663,107 shares of the company’s stock were exchanged, compared to its average volume of 9,612,150. The company’s 50-day moving average is $78.50 and its two-hundred day moving average is $87.36. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The company has a market capitalization of $86.14 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.67 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its 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). The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.74 earnings per share. Research analysts predict that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders 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 dividend yield of 3.00%. Starbucks’s dividend payout ratio is currently 62.81%.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. The Goldman Sachs Group began coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Wells Fargo & Company decreased their price objective on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. BTIG Research decreased their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. UBS Group decreased their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Stifel Nicolaus cut their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Starbucks has an average rating of “Hold” and an average price target of $94.54.

Starbucks Company 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.