KRS Capital Management LLC Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

KRS Capital Management LLC lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 15.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 5,854 shares of the coffee company’s stock after selling 1,043 shares during the quarter. KRS Capital Management LLC’s holdings in Starbucks were worth $535,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Willow Creek Wealth Management Inc. grew its stake 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 acquiring an additional 97 shares during the last quarter. First National Trust Co lifted its holdings in shares of Starbucks by 2.2% during the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after purchasing an additional 106 shares during the period. Quent Capital LLC lifted its holdings in shares of Starbucks by 2.8% during the fourth quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock worth $384,000 after purchasing an additional 108 shares during the period. Graybill Wealth Management LTD. lifted its holdings in shares of Starbucks by 0.3% during the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after purchasing an additional 109 shares during the period. Finally, Omega Financial Group LLC lifted its holdings in shares of Starbucks by 3.2% during the fourth quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock worth $347,000 after purchasing an additional 113 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated 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 directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock worth $878,893 in the last three months. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Performance

Shares of SBUX traded down $1.39 during trading hours on Friday, hitting $77.85. 13,207,542 shares of the stock were exchanged, compared to its average volume of 10,825,160. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66. The company has a market cap of $88.18 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. The stock’s 50-day moving average price is $79.66 and its two-hundred day moving average price is $88.09.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SBUX shares. Stifel Nicolaus decreased their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, May 1st. UBS Group decreased their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. BTIG Research decreased their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and decreased their target price for the stock from $108.00 to $89.00 in a report on Wednesday, May 1st. Finally, Piper Sandler decreased their price target on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average target price of $94.54.

About Starbucks

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.