Traynor Capital Management Inc. Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Traynor Capital Management Inc. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8.2% during the 1st quarter, Holdings Channel.com reports. The firm owned 6,370 shares of the coffee company’s stock after selling 572 shares during the period. Traynor Capital Management Inc.’s holdings in Starbucks were worth $582,000 at the end of the most recent reporting period.

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

Insider Activity at Starbucks

In related 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 sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Starbucks 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 value of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,750 shares of company stock valued at $878,893. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.2 %

Starbucks stock opened at $79.73 on Tuesday. The stock has a market cap of $90.31 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66. The stock has a 50 day moving average of $80.28 and a 200-day moving average of $88.48.

Starbucks (NASDAQ:SBUX) last posted 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 net margin of 11.38% and a negative return on equity of 49.91%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird cut their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. UBS Group cut their target price 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. The Goldman Sachs Group assumed coverage on shares of Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. Finally, BTIG Research cut their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and a consensus target price of $95.00.

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.