Cypress Asset Management Inc. TX Decreases Holdings in Starbucks Co. (NASDAQ:SBUX)

Cypress Asset Management Inc. TX reduced its position in Starbucks Co. (NASDAQ:SBUX) by 4.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 8,565 shares of the coffee company’s stock after selling 419 shares during the period. Cypress Asset Management Inc. TX’s holdings in Starbucks were worth $783,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vima LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in Starbucks during the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks in the fourth quarter worth $27,000. Fairman Group LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at $30,000. Finally, Cypress Capital Management LLC WY boosted its stake in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on SBUX. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. BTIG Research decreased their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Wedbush boosted their price target on Starbucks from $77.00 to $80.00 and gave the company a “neutral” rating in a report on Wednesday. BMO Capital Markets decreased their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Finally, 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. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Starbucks presently has a consensus rating of “Hold” and an average price target of $90.88.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was 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 directly owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction 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 directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock worth $579,375 over the last quarter. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 1.0 %

SBUX stock traded up $0.77 during midday trading on Friday, hitting $75.88. 15,185,688 shares of the company’s stock were exchanged, compared to its average volume of 13,858,536. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market capitalization of $85.99 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 1.74 and a beta of 0.94. The firm has a 50 day moving average price of $77.62 and a 200-day moving average price of $84.61.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. On average, sell-side analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

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.