Ignite Planners LLC Sells 222 Shares of Starbucks Co. (NASDAQ:SBUX)

Ignite Planners LLC decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 3.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,530 shares of the coffee company’s stock after selling 222 shares during the period. Ignite Planners LLC’s holdings in Starbucks were worth $506,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Willow Creek Wealth Management Inc. boosted its stake in shares of Starbucks by 3.0% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after purchasing an additional 97 shares in the last quarter. First National Trust Co boosted its stake in shares of Starbucks by 2.2% in the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after purchasing an additional 106 shares in the last quarter. Quent Capital LLC boosted its position in Starbucks by 2.8% during the 4th quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock valued at $384,000 after buying an additional 108 shares during the period. Graybill Wealth Management LTD. boosted its position in Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after buying an additional 109 shares during the period. Finally, Omega Financial Group LLC boosted its position in Starbucks by 3.2% during the 4th quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock valued at $347,000 after buying an additional 113 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’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 completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of several analyst reports. Jefferies Financial Group dropped their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Guggenheim dropped their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Bank of America increased their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Wedbush dropped their price target on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, The Goldman Sachs Group began coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Hold” and a consensus price target of $95.00.

Starbucks Stock Performance

NASDAQ:SBUX opened at $79.73 on Tuesday. The firm has a market cap of $90.31 billion, a P/E ratio of 21.96, a P/E/G ratio of 1.74 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The firm has a 50-day simple moving average of $80.28 and a two-hundred day simple moving average of $88.48.

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

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.86%. Starbucks’s dividend payout ratio is currently 62.81%.

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.