XML Financial LLC Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

XML Financial LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 3.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 7,441 shares of the coffee company’s stock after selling 267 shares during the period. XML Financial LLC’s holdings in Starbucks were worth $579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Tennessee Valley Asset Management Partners purchased a new stake in shares of Starbucks in the fourth quarter worth $38,000. Federated Hermes Inc. lifted its holdings in shares of Starbucks by 22.7% during the fourth quarter. Federated Hermes Inc. now owns 67,595 shares of the coffee company’s stock valued at $6,490,000 after purchasing an additional 12,495 shares in the last quarter. Beaumont Financial Advisors LLC lifted its holdings in shares of Starbucks by 5.2% during the fourth quarter. Beaumont Financial Advisors LLC now owns 4,581 shares of the coffee company’s stock valued at $440,000 after purchasing an additional 226 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Starbucks by 14.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 7,159 shares of the coffee company’s stock valued at $687,000 after purchasing an additional 901 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in shares of Starbucks by 23.5% during the fourth quarter. Kornitzer Capital Management Inc. KS now owns 30,246 shares of the coffee company’s stock valued at $2,904,000 after purchasing an additional 5,761 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

NASDAQ SBUX traded down $0.23 during trading on Wednesday, reaching $92.78. 6,757,129 shares of the company’s stock were exchanged, compared to its average volume of 22,304,558. The company has a 50 day moving average price of $78.97 and a two-hundred day moving average price of $83.92. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a market cap of $105.14 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94.

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

Starbucks Announces Dividend

The company also recently declared 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 2.46%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Wells Fargo & Company lowered their price target on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. UBS Group lowered their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. Finally, BTIG Research lowered their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $99.21.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was 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 filing with the SEC, which is available through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’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 completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is owned by corporate insiders.

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.