Silvercrest Asset Management Group LLC Has $4.15 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Silvercrest Asset Management Group LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,374 shares of the coffee company’s stock after selling 2,382 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Starbucks were worth $4,147,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lavaca Capital LLC increased its holdings in Starbucks by 42.9% in the first quarter. Lavaca Capital LLC now owns 4,374 shares of the coffee company’s stock worth $400,000 after buying an additional 1,313 shares during the last quarter. Mount Yale Investment Advisors LLC raised its holdings in Starbucks by 34.6% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 19,510 shares of the coffee company’s stock worth $1,783,000 after acquiring an additional 5,010 shares during the period. London & Capital Asset Management Ltd lifted its position in Starbucks by 3.8% during the 1st quarter. London & Capital Asset Management Ltd now owns 402,640 shares of the coffee company’s stock worth $36,797,000 after acquiring an additional 14,670 shares during the last quarter. Kestra Advisory Services LLC boosted its holdings in Starbucks by 18.8% during the first quarter. Kestra Advisory Services LLC now owns 147,695 shares of the coffee company’s stock valued at $13,498,000 after acquiring an additional 23,326 shares during the period. Finally, Epoch Investment Partners Inc. grew its position in shares of Starbucks by 25.2% in the first quarter. Epoch Investment Partners Inc. now owns 1,198,981 shares of the coffee company’s stock valued at $109,575,000 after purchasing an additional 241,700 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. TD Cowen decreased their target price on Starbucks from $85.00 to $81.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Friday, May 3rd. BMO Capital Markets dropped their price objective on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, Stifel Nicolaus cut their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $91.71.

Starbucks Stock Performance

SBUX traded up $0.45 during midday trading on Tuesday, hitting $75.65. The company had a trading volume of 7,731,971 shares, compared to its average volume of 10,680,445. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $85.69 billion, a PE ratio of 20.71, a P/E/G ratio of 1.68 and a beta of 0.94. The firm’s 50-day simple moving average is $77.83 and its 200-day simple moving average is $85.00.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion during 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%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.57 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 paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.01%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the transaction, the chief executive officer now directly 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 7,250 shares of company stock worth $579,375 over the last 90 days. 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.