ICW Investment Advisors LLC Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

ICW Investment Advisors LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,945 shares of the coffee company’s stock after selling 136 shares during the quarter. ICW Investment Advisors LLC’s holdings in Starbucks were worth $1,864,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SBUX. Gryphon Financial Partners LLC lifted its position in Starbucks by 96.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 5,213 shares of the coffee company’s stock valued at $508,000 after acquiring an additional 2,558 shares in the last quarter. Montag A & Associates Inc. boosted its position in shares of Starbucks by 57.1% during the fourth quarter. Montag A & Associates Inc. now owns 28,511 shares of the coffee company’s stock valued at $2,737,000 after buying an additional 10,365 shares during the last quarter. First Western Trust Bank increased its holdings in Starbucks by 8.4% in the 4th quarter. First Western Trust Bank now owns 4,752 shares of the coffee company’s stock worth $456,000 after buying an additional 367 shares in the last quarter. Principal Securities Inc. purchased a new position in Starbucks in the 4th quarter worth about $3,919,000. Finally, Kovitz Investment Group Partners LLC lifted its stake in Starbucks by 9.1% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 44,672 shares of the coffee company’s stock valued at $4,289,000 after acquiring an additional 3,744 shares during the period. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SBUX shares. Wedbush reissued a “neutral” rating and set a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. Morgan Stanley reiterated an “overweight” rating and issued a $98.00 price objective on shares of Starbucks in a research note on Wednesday, July 31st. Finally, The Goldman Sachs Group assumed coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.42.

Starbucks Stock Up 0.3 %

SBUX traded up $0.30 on Friday, reaching $91.86. 432,673 shares of the company traded hands, compared to its average volume of 11,915,646. The company has a market cap of $104.05 billion, a P/E ratio of 25.22, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The firm has a fifty day simple moving average of $82.14 and a two-hundred day simple moving average of $83.96. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its 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. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the company posted $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a dividend of $0.57 per share. The ex-dividend date was Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.48%. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling at Starbucks

In related news, 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 transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, 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 available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is currently owned by corporate insiders.

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.