Means Investment CO. Inc. Sells 1,319 Shares of Starbucks Co. (NASDAQ:SBUX)

Means Investment CO. Inc. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 5.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,495 shares of the coffee company’s stock after selling 1,319 shares during the quarter. Means Investment CO. Inc.’s holdings in Starbucks were worth $1,907,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Vima LLC bought a new position in shares of Starbucks in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in Starbucks in the 4th quarter valued at $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks during the fourth quarter worth $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at $30,000. Finally, Cypress Capital Management LLC WY increased its stake 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 buying an additional 185 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 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 hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 10,540 shares of company stock worth $879,291 over the last three months. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Down 2.6 %

Shares of SBUX traded down $2.51 on Monday, hitting $92.30. The company’s stock had a trading volume of 14,434,127 shares, compared to its average volume of 12,077,441. The firm’s fifty day moving average price is $78.23 and its 200-day moving average price is $83.86. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market capitalization of $104.55 billion, a price-to-earnings ratio of 25.70, a P/E/G ratio of 2.25 and a beta of 0.94.

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

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is 62.81%.

Analyst Ratings Changes

A number of brokerages have commented on SBUX. Citigroup increased their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on shares of Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, BTIG Research lowered their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Twelve research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $98.79.

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.