STAR Financial Bank Reduces Position in Starbucks Co. (NASDAQ:SBUX)

STAR Financial Bank cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,451 shares of the coffee company’s stock after selling 390 shares during the period. STAR Financial Bank’s holdings in Starbucks were worth $864,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Scarborough Advisors LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at about $26,000. Vima LLC purchased a new position in Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC purchased a new position in Starbucks during the fourth quarter worth about $27,000. Fairman Group LLC purchased a new position in Starbucks during the fourth quarter worth about $30,000. Finally, Cypress Capital Management LLC WY boosted its stake in Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ SBUX traded down $0.24 during trading on Wednesday, hitting $72.51. 11,113,819 shares of the company were exchanged, compared to its average volume of 10,363,456. The company has a market cap of $82.13 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 1.63 and a beta of 0.94. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The firm’s fifty day moving average price is $77.87 and its 200 day moving average price is $86.83.

Starbucks (NASDAQ:SBUX) last released 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 firm had revenue of $8.56 billion for 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 period last year, the firm earned $0.74 EPS. On average, research analysts forecast that Starbucks Co. will post 3.58 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 3.14%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of 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 Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were 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 of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,750 shares of company stock valued at $878,893. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SBUX shares. Bank of America increased their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. The Goldman Sachs Group started coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. Jefferies Financial Group lowered 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. UBS Group lowered their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective for the company. in a research note on Friday, May 3rd. Seventeen analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $94.46.

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.