Financial Management Professionals Inc. Sells 212 Shares of Starbucks Co. (NASDAQ:SBUX)

Financial Management Professionals Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 18.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 933 shares of the coffee company’s stock after selling 212 shares during the period. Financial Management Professionals Inc.’s holdings in Starbucks were worth $85,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Orca Investment Management LLC raised its position in Starbucks by 6.6% in the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after purchasing an additional 466 shares during the last quarter. Cerity Partners LLC raised its position in Starbucks by 481.9% in the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares during the last quarter. Cox Capital Mgt LLC raised its position in Starbucks by 41.9% in 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 during the last quarter. Summa Corp. bought a new stake in shares of Starbucks during the 4th quarter valued at $384,000. Finally, Brevan Howard Capital Management LP bought a new stake in shares of Starbucks during the 4th quarter valued at $2,781,000. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on SBUX shares. JPMorgan Chase & Co. dropped their target price on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a research report on Wednesday, May 1st. Evercore ISI dropped their target price on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Citigroup dropped their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. DZ Bank cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Friday, May 3rd. Finally, Robert W. Baird dropped their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $94.54.

Starbucks Price Performance

Starbucks stock opened at $77.85 on Friday. The firm has a 50-day moving average of $79.66 and a 200-day moving average of $88.02. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The company has a market cap of $88.18 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.70 and a beta of 0.96.

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

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders 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 dividend yield of 2.93%. Starbucks’s dividend payout ratio is 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’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 $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. 1.98% of the stock is owned by company insiders.

Starbucks 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.