Global Financial Private Client LLC Sells 192 Shares of Starbucks Co. (NASDAQ:SBUX)

Global Financial Private Client LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.2% in the 2nd quarter, Holdings Channel reports. The fund owned 1,522 shares of the coffee company’s stock after selling 192 shares during the period. Global Financial Private Client LLC’s holdings in Starbucks were worth $119,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in SBUX. Vima LLC bought a new stake in Starbucks during the 4th quarter worth $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the fourth quarter valued at about $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC increased 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 valued at $26,000 after buying an additional 279 shares during the period. Finally, DSM Capital Partners LLC bought a new position in Starbucks in the 4th quarter valued at approximately $27,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. HSBC cut their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Citigroup lifted their price objective on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Finally, TD Cowen raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $81.00 to $105.00 in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $99.21.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock valued at $865,514 over the last 90 days. Insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.3 %

NASDAQ SBUX opened at $94.57 on Friday. The company has a fifty day simple moving average of $80.76 and a 200 day simple moving average of $83.98. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The company has a market cap of $107.12 billion, a P/E ratio of 26.05, a PEG ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. Sell-side analysts predict that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.41%. Starbucks’s dividend payout ratio is presently 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.