Veracity Capital LLC Has $300,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Veracity Capital LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 13.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,856 shares of the coffee company’s stock after selling 603 shares during the period. Veracity Capital LLC’s holdings in Starbucks were worth $300,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Starbucks in the fourth quarter valued at about $26,000. Vima LLC acquired a new position in Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new stake in Starbucks during the fourth quarter worth $27,000. Fairman Group LLC bought a new stake in shares of Starbucks during the fourth quarter worth about $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 during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 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. In the last three months, insiders have sold 9,790 shares of company stock worth $865,514. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.2 %

NASDAQ SBUX traded down $0.23 during mid-day trading on Wednesday, hitting $92.78. The company’s stock had a trading volume of 6,764,592 shares, compared to its average volume of 12,041,359. The firm has a market capitalization of $105.09 billion, a price-to-earnings ratio of 25.49, a PEG ratio of 2.25 and a beta of 0.94. The company’s 50 day simple moving average is $78.71 and its 200 day simple moving average is $83.85. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates 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 was down .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.00 EPS. As a group, research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SBUX shares. Wells Fargo & Company decreased their price target on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Jefferies Financial Group cut their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. BTIG Research reduced their price target on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday. Finally, TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and upped their target price for the company from $81.00 to $105.00 in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $99.21.

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.