1620 Investment Advisors Inc. Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

1620 Investment Advisors Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 98.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 600 shares of the coffee company’s stock after selling 33,216 shares during the period. 1620 Investment Advisors Inc.’s holdings in Starbucks were worth $47,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Scarborough Advisors LLC purchased a new stake in shares of Starbucks during the 4th quarter worth $26,000. Vima LLC purchased a new stake in Starbucks in the 4th quarter valued at approximately $26,000. DSM Capital Partners LLC purchased a new position in Starbucks in the fourth quarter worth $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $30,000. Finally, Cypress Capital Management LLC WY boosted its stake 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. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on 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 sale, 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,790 shares of company stock worth $865,514. 1.98% of the stock is owned by company insiders.

Starbucks Price Performance

Shares of Starbucks stock traded down $0.35 on Thursday, hitting $92.43. The company had a trading volume of 10,005,168 shares, compared to its average volume of 12,028,839. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50-day simple moving average of $79.22 and a 200-day simple moving average of $83.97. The company has a market cap of $104.70 billion, a PE ratio of 25.46, a PEG ratio of 2.28 and a beta of 0.94.

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

Starbucks Dividend Announcement

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

Analyst Ratings Changes

A number of analysts recently issued reports on SBUX shares. William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Jefferies Financial Group reduced their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, July 31st. DZ Bank downgraded shares of 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. Bank of America lifted their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Finally, UBS Group reduced their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.21.

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.