Monument Capital Management Sells 1,384 Shares of Starbucks Co. (NASDAQ:SBUX)

Monument Capital Management trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 23.8% during the first quarter, HoldingsChannel.com reports. The firm owned 4,441 shares of the coffee company’s stock after selling 1,384 shares during the quarter. Monument Capital Management’s holdings in Starbucks were worth $406,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Azzad Asset Management Inc. ADV raised its position in Starbucks by 32.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 30,089 shares of the coffee company’s stock valued at $2,750,000 after buying an additional 7,316 shares during the last quarter. Naviter Wealth LLC boosted its position in Starbucks by 22.6% during the 1st quarter. Naviter Wealth LLC now owns 16,561 shares of the coffee company’s stock worth $1,514,000 after acquiring an additional 3,050 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Starbucks during the 1st quarter worth approximately $46,000. Cullinan Associates Inc. raised its holdings in shares of Starbucks by 19.7% in the first quarter. Cullinan Associates Inc. now owns 151,313 shares of the coffee company’s stock valued at $13,828,000 after purchasing an additional 24,869 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Starbucks by 95.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 312,309 shares of the coffee company’s stock worth $28,542,000 after purchasing an additional 152,849 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related 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 completion of the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock valued at $878,893 in the last quarter. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.7 %

Shares of NASDAQ SBUX opened at $76.26 on Thursday. The firm has a market cap of $86.38 billion, a P/E ratio of 21.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.94. The business’s 50 day moving average is $79.22 and its 200-day moving average is $87.66. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted 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 firm 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 firm’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.74 EPS. Analysts forecast that Starbucks Co. will post 3.58 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.99%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBUX shares. HSBC lowered their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and lowered their target price for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Evercore ISI decreased their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $94.54.

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.