Starbucks Co. (NASDAQ:SBUX) Shares Sold by Summit Trail Advisors LLC

Summit Trail Advisors LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.4% in the 4th quarter, Holdings Channel reports. The firm owned 12,558 shares of the coffee company’s stock after selling 183 shares during the period. Summit Trail Advisors LLC’s holdings in Starbucks were worth $1,206,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Riggs Asset Managment Co. Inc. grew its stake in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after buying an additional 300 shares in the last quarter. Cypress Capital Management LLC WY raised its stake in shares of Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares in the last quarter. Atticus Wealth Management LLC boosted its position in Starbucks by 153.8% during the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares during the period. Evolution Advisers Inc. acquired a new position in Starbucks during the fourth quarter valued at approximately $36,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of Starbucks in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.3 %

NASDAQ SBUX traded down $0.21 during trading hours on Monday, reaching $72.90. 18,601,605 shares of the company’s stock were exchanged, compared to its average volume of 9,574,881. The firm has a fifty day moving average of $88.89 and a 200-day moving average of $93.84. Starbucks Co. has a one year low of $72.67 and a one year high of $108.12. The stock has a market cap of $82.57 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. As a group, research analysts forecast that Starbucks Co. will post 3.63 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is 62.81%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 7,250 shares of company stock valued at $651,738 over the last ninety days. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. Morgan Stanley lowered their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Robert W. Baird dropped their price objective on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Citigroup decreased their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Stifel Nicolaus dropped their price target on Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Finally, Wedbush reduced their price objective on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average price target of $96.43.

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.