Appleton Partners Inc. MA Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

Appleton Partners Inc. MA lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 92.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,569 shares of the coffee company’s stock after selling 64,861 shares during the quarter. Appleton Partners Inc. MA’s holdings in Starbucks were worth $434,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SBUX. First National Trust Co raised its holdings in Starbucks by 2.2% in the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after acquiring an additional 106 shares in the last quarter. Graybill Wealth Management LTD. raised its holdings in Starbucks by 0.3% during 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 in the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in Starbucks by 24.6% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 598 shares of the coffee company’s stock worth $57,000 after purchasing an additional 118 shares in the last quarter. Versant Capital Management Inc raised its holdings 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 in the last quarter. Finally, Valmark Advisers Inc. raised its holdings 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 purchasing an additional 123 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 completion of the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 completion of the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated 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 approximately $5,234,480. The disclosure for this sale can be found here. Over the last quarter, insiders sold 7,250 shares of company stock valued at $579,375. 1.98% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Citigroup cut their price objective on shares of Starbucks from $85.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Wedbush raised their price objective on shares of Starbucks from $77.00 to $80.00 and gave the stock a “neutral” rating in a report on Wednesday. Guggenheim cut their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a report on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Finally, Piper Sandler lowered their target price on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Seventeen equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $90.88.

View Our Latest Research Report on Starbucks

Starbucks Stock Performance

Starbucks stock traded up $0.77 during midday trading on Friday, reaching $75.88. The company’s stock had a trading volume of 15,185,688 shares, compared to its average volume of 13,858,536. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock’s 50 day simple moving average is $77.62 and its 200 day simple moving average is $84.61. The firm has a market capitalization of $85.95 billion, a PE ratio of 20.90, a P/E/G ratio of 1.74 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Free Report) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the company earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts predict that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

About Starbucks

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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