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

Cornerstone Advisors LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 13.2% in the 4th quarter, Holdings Channel.com reports. The fund owned 44,000 shares of the coffee company’s stock after selling 6,700 shares during the quarter. Cornerstone Advisors LLC’s holdings in Starbucks were worth $4,224,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Willow Creek Wealth Management Inc. lifted its position in shares of Starbucks by 3.0% during the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the last quarter. Valley Brook Capital Group Inc. lifted its holdings in Starbucks by 2.4% in the third quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after acquiring an additional 100 shares during the last quarter. Charles Schwab Investment Advisory Inc. lifted its holdings in Starbucks by 4.6% in the third quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after acquiring an additional 100 shares during the last quarter. Herold Advisors Inc. lifted its holdings in Starbucks by 4.3% in the third quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock worth $221,000 after acquiring an additional 100 shares during the last quarter. Finally, Rodgers Brothers Inc. lifted its holdings in Starbucks by 1.2% in the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last three months, insiders have sold 4,000 shares of company stock worth $346,140. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.3 %

Starbucks stock traded up $0.24 during mid-day trading on Monday, hitting $78.09. The company’s stock had a trading volume of 5,167,818 shares, compared to its average volume of 10,045,610. The stock has a market capitalization of $88.45 billion, a P/E ratio of 21.53, a P/E/G ratio of 1.68 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The stock’s fifty day moving average price is $85.38 and its two-hundred day moving average price is $92.56.

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

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.92%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SBUX shares. Evercore ISI cut their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Robert W. Baird cut their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. BMO Capital Markets cut their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Wednesday, January 31st. Finally, Citigroup cut their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Starbucks has an average rating of “Hold” and an average target price of $96.43.

Get Our Latest Stock Analysis on Starbucks

About Starbucks

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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