Wedbush Securities Inc. Decreases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Wedbush Securities Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 3.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 57,452 shares of the coffee company’s stock after selling 2,234 shares during the period. Wedbush Securities Inc.’s holdings in Starbucks were worth $4,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Cox Capital Mgt LLC raised its stake in Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after purchasing an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP acquired a new stake in 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. Fidelis Capital Partners LLC grew its holdings in Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the period. Finally, Bell & Brown Wealth Advisors LLC purchased a new position in Starbucks during the fourth quarter worth approximately $4,048,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

SBUX opened at $91.40 on Monday. The stock’s 50 day moving average price is $82.41 and its 200 day moving average price is $83.80. The stock has a market cap of $103.57 billion, a P/E ratio of 25.16, a P/E/G ratio of 2.18 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for 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%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 earnings per share. Equities analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.57 dividend. 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 2.49%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Analyst Ratings Changes

SBUX has been the subject of a number of research analyst reports. Barclays upped 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. Jefferies Financial Group decreased their price objective 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. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. JPMorgan Chase & Co. cut their price objective on Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. Finally, Morgan Stanley reissued an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $99.83.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 approximately $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is owned by corporate insiders.

Starbucks 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.