Leeward Financial Partners LLC Sells 7,967 Shares of Starbucks Co. (NASDAQ:SBUX)

Leeward Financial Partners LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 47.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,852 shares of the coffee company’s stock after selling 7,967 shares during the quarter. Leeward Financial Partners LLC’s holdings in Starbucks were worth $809,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Scarborough Advisors LLC bought a new position in shares of Starbucks during the 4th quarter valued at $26,000. Vima LLC purchased a new position in shares of Starbucks during the fourth quarter valued at about $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks during the fourth quarter valued at about $27,000. Riggs Asset Managment Co. Inc. grew its position in shares of Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Finally, Fairman Group LLC bought a new position in shares of Starbucks in the 4th quarter valued at about $30,000. 72.29% of the stock is owned by institutional investors.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The shares were 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 $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock valued at $878,893 over the last three months. 1.98% of the stock is owned by corporate insiders.

Starbucks Price Performance

Shares of SBUX stock traded down $0.57 during trading hours on Wednesday, reaching $76.26. The stock had a trading volume of 4,906,747 shares, compared to its average volume of 10,363,257. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The firm has a 50-day simple moving average of $79.22 and a 200-day simple moving average of $87.66. The firm has a market capitalization of $86.38 billion, a PE ratio of 21.06, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94.

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

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Analyst Ratings Changes

Several brokerages have issued reports on SBUX. Jefferies Financial Group decreased their price objective on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Bank of America upped their price target on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Stifel Nicolaus dropped their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. UBS Group dropped their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Morgan Stanley lowered their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a 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. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $94.54.

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.