Cobblestone Capital Advisors LLC NY Sells 487 Shares of Starbucks Co. (NASDAQ:SBUX)

Cobblestone Capital Advisors LLC NY cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,354 shares of the coffee company’s stock after selling 487 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Starbucks were worth $572,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Cox Capital Mgt LLC lifted its holdings in Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in Starbucks during the fourth quarter valued at approximately $2,781,000. Sanibel Captiva Trust Company Inc. bought a new stake in Starbucks during the 4th quarter worth approximately $31,246,000. Fidelis Capital Partners LLC boosted its holdings in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the period. Finally, Bell & Brown Wealth Advisors LLC purchased a new position in shares of Starbucks during the 4th quarter valued at $4,048,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Morgan Stanley reaffirmed an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a research note on Wednesday, July 31st. Jefferies Financial Group cut their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.42.

Starbucks Stock Performance

Shares of SBUX stock traded down $0.41 during mid-day trading on Friday, hitting $91.15. The company’s stock had a trading volume of 9,257,004 shares, compared to its average volume of 11,966,935. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a market cap of $103.25 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.26 and a beta of 0.96. The business has a 50-day moving average price of $82.41 and a 200 day moving average price of $83.94.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the previous year, the company earned $1.00 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts predict that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling

In other news, 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 completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction 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 stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is owned by insiders.

About Starbucks

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.