Evermay Wealth Management LLC Sells 595 Shares of Starbucks Co. (NASDAQ:SBUX)

Evermay Wealth Management LLC lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 56.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 453 shares of the coffee company’s stock after selling 595 shares during the quarter. Evermay Wealth Management LLC’s holdings in Starbucks were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. Cox Capital Mgt LLC lifted its position in Starbucks by 41.9% in the first quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after buying an additional 13,372 shares during the last quarter. Summa Corp. purchased a new stake in shares of Starbucks in the fourth quarter valued at $384,000. Brevan Howard Capital Management LP bought a new stake in shares of Starbucks in the 4th quarter worth about $2,781,000. Sanibel Captiva Trust Company Inc. purchased a new position in shares of Starbucks during the 4th quarter worth about $31,246,000. Finally, Fidelis Capital Partners LLC boosted its position in shares of Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after buying an additional 1,751 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a document filed with the SEC, which is accessible 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 stock was sold at an average price of $80.00, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 9,790 shares of company stock valued at $865,514. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Jefferies Financial Group decreased their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Barclays raised their price objective on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Starbucks Trading Down 1.5 %

Shares of SBUX stock opened at $93.18 on Wednesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market cap of $105.59 billion, a P/E ratio of 25.67, a P/E/G ratio of 2.26 and a beta of 0.96. The stock has a 50 day moving average of $81.63 and a 200 day moving average of $83.84.

Starbucks (NASDAQ:SBUX) last posted its 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 firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the firm earned $1.00 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.45%. Starbucks’s dividend payout ratio is currently 62.81%.

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.