IMS Capital Management Sells 1,141 Shares of Starbucks Co. (NASDAQ:SBUX)

IMS Capital Management cut its position in Starbucks Co. (NASDAQ:SBUX) by 3.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,410 shares of the coffee company’s stock after selling 1,141 shares during the quarter. Starbucks comprises about 1.3% of IMS Capital Management’s portfolio, making the stock its 17th biggest holding. IMS Capital Management’s holdings in Starbucks were worth $2,779,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First National Trust Co increased its stake in Starbucks by 2.2% during the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after acquiring an additional 106 shares during the period. Graybill Wealth Management LTD. increased its position in shares of Starbucks by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after purchasing an additional 109 shares during the period. Blue Bell Private Wealth Management LLC raised its stake in Starbucks by 24.6% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 598 shares of the coffee company’s stock valued at $57,000 after purchasing an additional 118 shares in the last quarter. Versant Capital Management Inc lifted its position in Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after purchasing an additional 122 shares during the period. Finally, Valmark Advisers Inc. grew its stake in Starbucks by 1.1% during the fourth quarter. Valmark Advisers Inc. now owns 10,857 shares of the coffee company’s stock worth $1,042,000 after buying an additional 123 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays dropped their target price on shares of Starbucks from $95.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday. TD Cowen cut 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. Wedbush lifted their price target on Starbucks from $77.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday. BMO Capital Markets dropped their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, Wells Fargo & Company decreased their target price on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $90.88.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were 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 owns 78,304 shares in the company, 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. 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 in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold 7,250 shares of company stock worth $579,375 in the last quarter. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX traded up $0.77 during mid-day trading on Friday, reaching $75.88. 15,185,688 shares of the stock were exchanged, compared to its average volume of 13,858,536. The stock has a market cap of $85.99 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.74 and a beta of 0.94. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a 50 day simple moving average of $77.62 and a 200-day simple moving average of $84.61.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the company posted $1.00 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Sell-side analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. 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 3.00%. Starbucks’s payout ratio is presently 62.81%.

Starbucks 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.