Starbucks Co. (NASDAQ:SBUX) Shares Sold by Exchange Capital Management Inc.

Exchange Capital Management Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,178 shares of the coffee company’s stock after selling 317 shares during the quarter. Exchange Capital Management Inc.’s holdings in Starbucks were worth $4,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vima LLC acquired a new stake in Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks in the 4th quarter valued at $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks in the 4th quarter valued at $27,000. Riggs Asset Managment Co. Inc. grew its stake in 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 acquiring an additional 300 shares during the period. Finally, Fairman Group LLC purchased a new position in Starbucks in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated 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 directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was 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 owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock valued at $878,893 over the last quarter. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.6 %

SBUX stock traded down $0.45 on Tuesday, reaching $76.68. 3,387,310 shares of the company’s stock were exchanged, compared to its average volume of 10,363,177. The stock has a fifty day moving average of $79.66 and a 200-day moving average of $87.95. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The firm has a market cap of $86.86 billion, a PE ratio of 21.13, a P/E/G ratio of 1.70 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the company earned $0.74 EPS. The company’s revenue was down 1.8% on a year-over-year basis. On average, equities research analysts predict that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Announces Dividend

The company 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 2.97%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Wall Street Analyst Weigh In

Several research firms have recently commented on SBUX. Robert W. Baird reduced their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Deutsche Bank Aktiengesellschaft downgraded Starbucks from a “buy” rating to a “hold” rating and dropped their target price for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. Stifel Nicolaus dropped their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. UBS Group lowered their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Finally, Morgan Stanley lowered their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $94.54.

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.