Stonebrook Private Inc. Sells 778 Shares of Starbucks Co. (NASDAQ:SBUX)

Stonebrook Private Inc. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 10.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,960 shares of the coffee company’s stock after selling 778 shares during the quarter. Stonebrook Private Inc.’s holdings in Starbucks were worth $542,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vima LLC bought a new position in shares of Starbucks in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new stake in Starbucks during the 4th quarter valued at $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new position in shares of Starbucks during the fourth quarter valued at $27,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SBUX shares. Bank of America lifted their price objective on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Jefferies Financial Group cut their target price on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, July 31st. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $99.42.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,790 shares of company stock worth $865,514. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of Starbucks stock traded down $0.41 during trading hours on Friday, hitting $91.15. The company’s stock had a trading volume of 9,257,004 shares, compared to its average volume of 11,966,935. The company has a market cap of $103.25 billion, a PE ratio of 25.11, a PEG ratio of 2.26 and a beta of 0.96. The business has a 50 day moving average price of $82.41 and a two-hundred day moving average price of $83.94. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 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 for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the firm earned $1.00 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Announces Dividend

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

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.