Starbucks Co. (NASDAQ:SBUX) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% in the 2nd quarter, Holdings Channel reports. The fund owned 906,172 shares of the coffee company’s stock after selling 18,782 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Starbucks were worth $68,425,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vima LLC purchased a new stake in Starbucks during the fourth quarter worth about $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks during the fourth quarter worth about $27,000. Fairman Group LLC purchased a new stake in Starbucks during the fourth quarter worth about $30,000. Finally, Cypress Capital Management LLC WY lifted its holdings in shares of Starbucks by 133.1% in the fourth 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 owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SBUX. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Jefferies Financial Group dropped their price objective on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research report on Friday, May 3rd. Finally, Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.79.

Starbucks Stock Down 0.1 %

NASDAQ:SBUX traded down $0.07 during midday trading on Friday, hitting $94.81. The company had a trading volume of 16,316,622 shares, compared to its average volume of 12,062,401. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock’s fifty day moving average price is $77.96 and its 200-day moving average price is $83.99. The company has a market capitalization of $107.44 billion, a PE ratio of 25.96, a P/E/G ratio of 1.80 and a beta of 0.94.

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

Starbucks Announces Dividend

The company also recently disclosed 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 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, 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 of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated 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 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. Over the last ninety days, insiders sold 10,540 shares of company stock valued at $879,291. Insiders own 1.98% of the company’s stock.

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.