First Foundation Advisors Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

First Foundation Advisors cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,041 shares of the coffee company’s stock after selling 2,805 shares during the period. First Foundation Advisors’ holdings in Starbucks were worth $1,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Graybill Wealth Management LTD. boosted its stake in shares of Starbucks by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after buying an additional 109 shares during the last quarter. Versant Capital Management Inc boosted its position in Starbucks by 7.9% in the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after purchasing an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its stake in shares of Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after purchasing an additional 127 shares during the period. Bedel Financial Consulting Inc. increased its holdings in shares of Starbucks by 2.1% during the 4th quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock valued at $617,000 after purchasing an additional 132 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC lifted its stake in shares of Starbucks by 4.9% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after purchasing an additional 133 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the topic of several analyst reports. Bank of America raised their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. TD Cowen upped their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. BMO Capital Markets lowered their price target on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Barclays boosted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. One research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $99.42.

Starbucks Stock Down 0.4 %

Shares of SBUX opened at $91.15 on Monday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a fifty day simple moving average of $82.41 and a two-hundred day simple moving average of $83.80. The company has a market capitalization of $103.29 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.18 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business earned $1.00 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

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 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 of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. 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. Company insiders own 1.98% of the company’s stock.

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.