Evanson Asset Management LLC Sells 201 Shares of Starbucks Co. (NASDAQ:SBUX)

Evanson Asset Management LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,345 shares of the coffee company’s stock after selling 201 shares during the quarter. Evanson Asset Management LLC’s holdings in Starbucks were worth $306,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SBUX. Consolidated Portfolio Review Corp lifted its position in Starbucks by 6.5% during the third quarter. Consolidated Portfolio Review Corp now owns 2,798 shares of the coffee company’s stock worth $255,000 after purchasing an additional 172 shares during the period. Cadence Bank lifted its position in Starbucks by 2.3% during the third quarter. Cadence Bank now owns 5,801 shares of the coffee company’s stock worth $529,000 after purchasing an additional 131 shares during the period. Parkside Financial Bank & Trust lifted its position in Starbucks by 6.9% during the third quarter. Parkside Financial Bank & Trust now owns 5,900 shares of the coffee company’s stock worth $538,000 after purchasing an additional 382 shares during the period. Operose Advisors LLC bought a new stake in Starbucks during the third quarter worth about $53,000. Finally, O Shaughnessy Asset Management LLC lifted its position in Starbucks by 18.9% during the third quarter. O Shaughnessy Asset Management LLC now owns 98,682 shares of the coffee company’s stock worth $9,007,000 after purchasing an additional 15,680 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $79.28 on Wednesday. The stock has a market capitalization of $89.80 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 1.74 and a beta of 0.96. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The stock’s 50 day moving average price is $80.16 and its two-hundred day moving average price is $88.36.

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 analysts’ consensus estimates of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.74 earnings per share. On average, equities research analysts forecast that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Buying and Selling

In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was 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 approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was 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 approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock worth $878,893 in the last ninety days. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on SBUX shares. Wells Fargo & Company dropped their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Morgan Stanley dropped their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, April 12th. Citigroup lowered their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Finally, Piper Sandler lowered their price objective on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.00.

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.