Simon Quick Advisors LLC Has $242,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Simon Quick Advisors LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 7.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,114 shares of the coffee company’s stock after selling 251 shares during the quarter. Simon Quick Advisors LLC’s holdings in Starbucks were worth $242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Gryphon Financial Partners LLC increased its stake in shares of Starbucks by 96.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock worth $508,000 after acquiring an additional 2,558 shares during the last quarter. Montag A & Associates Inc. lifted its holdings in shares of Starbucks by 57.1% during the 4th quarter. Montag A & Associates Inc. now owns 28,511 shares of the coffee company’s stock valued at $2,737,000 after buying an additional 10,365 shares during the last quarter. First Western Trust Bank grew its stake in shares of Starbucks by 8.4% in the 4th quarter. First Western Trust Bank now owns 4,752 shares of the coffee company’s stock valued at $456,000 after buying an additional 367 shares in the last quarter. Principal Securities Inc. acquired a new position in Starbucks in the fourth quarter worth approximately $3,919,000. Finally, Kovitz Investment Group Partners LLC lifted its stake in Starbucks by 9.1% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 44,672 shares of the coffee company’s stock valued at $4,289,000 after acquiring an additional 3,744 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of Starbucks stock opened at $91.56 on Friday. The business has a 50-day simple moving average of $82.14 and a 200 day simple moving average of $83.96. The firm has a market capitalization of $103.71 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.26 and a beta of 0.96. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last released 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. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the firm earned $1.00 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts expect that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date was Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling at Starbucks

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on SBUX shares. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. The Goldman Sachs Group initiated coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, Barclays upped their price target on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.42.

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.