Stokes Family Office LLC Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Stokes Family Office LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 14.6% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 22,078 shares of the coffee company’s stock after selling 3,782 shares during the period. Stokes Family Office LLC’s holdings in Starbucks were worth $2,018,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in SBUX. Vima LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in Starbucks in the fourth quarter valued at $26,000. DSM Capital Partners LLC purchased a new position in Starbucks in the fourth quarter valued at $27,000. Fairman Group LLC purchased a new stake in Starbucks during the 4th quarter worth about $30,000. Finally, Cypress Capital Management LLC WY raised its position in Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 2.1 %

Shares of SBUX traded up $1.53 during mid-day trading on Friday, reaching $74.83. 10,551,872 shares of the company’s stock were exchanged, compared to its average volume of 10,379,763. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The company has a 50-day simple moving average of $77.84 and a two-hundred day simple moving average of $86.74. The company has a market cap of $84.76 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 1.58 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the firm earned $0.74 earnings per share. As a group, equities research analysts predict that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.05%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’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 completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,750 shares of company stock valued at $878,893. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SBUX. Citigroup cut their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI reduced their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday. Guggenheim cut their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, Morgan Stanley dropped their price objective on Starbucks from $104.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $93.75.

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.