WR Wealth Planners LLC Decreases Holdings in Starbucks Co. (NASDAQ:SBUX)

WR Wealth Planners LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 11.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,717 shares of the coffee company’s stock after selling 215 shares during the period. WR Wealth Planners LLC’s holdings in Starbucks were worth $134,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Nilsine Partners LLC lifted its position in Starbucks by 10.3% in the second quarter. Nilsine Partners LLC now owns 13,383 shares of the coffee company’s stock worth $1,042,000 after buying an additional 1,249 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Starbucks by 10.2% in the 2nd quarter. Farther Finance Advisors LLC now owns 35,251 shares of the coffee company’s stock worth $2,719,000 after acquiring an additional 3,262 shares during the last quarter. Confluence Wealth Services Inc. boosted its stake in shares of Starbucks by 27.7% during the 2nd quarter. Confluence Wealth Services Inc. now owns 4,107 shares of the coffee company’s stock worth $320,000 after purchasing an additional 892 shares during the period. Van ECK Associates Corp lifted its stake in Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after purchasing an additional 2,324,847 shares during the last quarter. Finally, First National Bank Sioux Falls purchased a new position in shares of Starbucks during the second quarter valued at approximately $440,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Down 0.3 %

Shares of NASDAQ SBUX traded down $0.29 during midday trading on Friday, reaching $94.57. The company had a trading volume of 7,117,159 shares, compared to its average volume of 21,091,858. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The business’s 50-day simple moving average is $81.06 and its 200 day simple moving average is $83.91. The stock has a market cap of $107.17 billion, a P/E ratio of 26.05, a P/E/G ratio of 2.26 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. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the business posted $1.00 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. Analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 transaction 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 approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 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. Insiders have sold a total of 9,790 shares of company stock worth $865,514 over the last quarter. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SBUX. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Citigroup increased their price objective on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Bank of America upped their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.