Starbucks Co. (NASDAQ:SBUX) Shares Sold by NORTHSTAR ASSET MANAGEMENT Co LLC

NORTHSTAR ASSET MANAGEMENT Co LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 11.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,425 shares of the coffee company’s stock after selling 2,475 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC’s holdings in Starbucks were worth $1,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Vima LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks during the 4th quarter worth about $30,000. Finally, Cypress Capital Management LLC WY raised its position in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after acquiring an additional 185 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,540 shares of company stock worth $879,291. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Guggenheim cut their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $80.00 to $110.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research report on Wednesday. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Finally, BMO Capital Markets cut their price target on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Twelve research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $98.79.

Starbucks Stock Up 0.5 %

Shares of Starbucks stock traded up $0.50 during trading on Friday, reaching $94.81. The company’s stock had a trading volume of 16,336,331 shares, compared to its average volume of 22,615,598. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The company has a market capitalization of $107.44 billion, a P/E ratio of 26.12, a price-to-earnings-growth ratio of 2.25 and a beta of 0.94. The business has a 50 day moving average price of $78.23 and a 200-day moving average price of $83.92.

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

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders 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 yield of 2.40%. Starbucks’s payout ratio is 62.81%.

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.