Starbucks Co. (NASDAQ:SBUX) Shares Sold by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 80.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 451 shares of the coffee company’s stock after selling 1,840 shares during the quarter. Prestige Wealth Management Group LLC’s holdings in Starbucks were worth $35,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SBUX. Scarborough Advisors LLC bought a new position in Starbucks in the 4th quarter worth approximately $26,000. Vima LLC bought a new position in shares of Starbucks in the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks in the fourth quarter worth about $27,000. Fairman Group LLC bought a new position in Starbucks in the 4th quarter valued at about $30,000. Finally, Raleigh Capital Management Inc. increased its stake in Starbucks by 150.0% during the 4th quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock valued at $32,000 after buying an additional 198 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 directly owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 in the company, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 in the company, valued at $6,264,320. 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. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SBUX. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. 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 report on Wednesday, August 14th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has assigned 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.

Starbucks Trading Down 0.4 %

Shares of NASDAQ SBUX opened at $91.15 on Monday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The business has a fifty day simple moving average of $82.41 and a 200 day simple moving average of $83.80. The firm has a market capitalization of $103.29 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.18 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm earned $1.00 EPS. On average, research analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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

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.