Starbucks Co. (NASDAQ:SBUX) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 263,892 shares of the coffee company’s stock after selling 8,221 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Starbucks were worth $24,117,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Starbucks by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock worth $10,362,673,000 after acquiring an additional 1,041,622 shares in the last quarter. Norges Bank bought a new stake in Starbucks in the fourth quarter valued at about $1,240,652,000. Fisher Asset Management LLC increased its holdings in Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after buying an additional 268,030 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after buying an additional 27,496 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after buying an additional 166,010 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of SBUX traded down $0.21 during trading hours on Friday, hitting $76.05. 9,663,107 shares of the company were exchanged, compared to its average volume of 9,612,150. The company has a market capitalization of $86.14 billion, a PE ratio of 20.95, a PEG ratio of 1.67 and a beta of 0.94. The firm has a fifty day simple moving average of $78.50 and a 200-day simple moving average of $87.36. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.74 earnings per share. Sell-side analysts expect that Starbucks Co. will post 3.58 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.00%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BTIG Research lowered their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Guggenheim lowered their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 19th. Wedbush reissued a “neutral” rating and issued a $81.00 price objective on shares of Starbucks in a report on Friday, June 28th. Evercore ISI lowered their target price on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, TD Cowen reaffirmed a “hold” rating and set a $85.00 target price on shares of Starbucks in a report on Thursday, June 13th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $94.54.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock valued at $878,893 over the last quarter. 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.