Stonebrook Private Inc. Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Stonebrook Private Inc. lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,960 shares of the coffee company’s stock after selling 778 shares during the period. Stonebrook Private Inc.’s holdings in Starbucks were worth $542,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Norges Bank bought a new position in shares of Starbucks during the 4th quarter valued at approximately $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new stake in Starbucks in the first quarter worth $415,167,000. Flossbach Von Storch AG raised its stake in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the period. Capital World Investors purchased a new position in shares of Starbucks during the 1st quarter valued at $257,721,000. Finally, Van ECK Associates Corp grew its stake in shares of Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after acquiring an additional 2,324,847 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.41 during mid-day trading on Friday, hitting $91.15. The stock had a trading volume of 9,257,004 shares, compared to its average volume of 11,966,935. The business has a 50 day moving average price of $82.41 and a two-hundred day moving average price of $83.94. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a market cap of $103.25 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 2.26 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 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 earnings per share. Equities research analysts predict that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SBUX shares. TD Cowen lifted their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Bank of America boosted their price objective on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Finally, The Goldman Sachs Group initiated coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.42.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, 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. In the last three months, insiders have sold 9,790 shares of company stock worth $865,514. 1.98% of the stock is currently owned by insiders.

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.