Starbucks Co. (NASDAQ:SBUX) Shares Sold by MV Capital Management Inc.

MV Capital Management Inc. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 87.6% in the 1st quarter, Holdings Channel reports. The institutional investor owned 2,283 shares of the coffee company’s stock after selling 16,192 shares during the period. MV Capital Management Inc.’s holdings in Starbucks were worth $209,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Scarborough Advisors LLC bought a new position in Starbucks in the fourth quarter worth about $26,000. Vima LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new stake in shares of Starbucks in the 4th quarter worth approximately $27,000. Fairman Group LLC acquired a new position in Starbucks during the 4th quarter valued at approximately $30,000. Finally, Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SBUX. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. 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. William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Wedbush reiterated a “neutral” rating and set a $81.00 price objective on shares of Starbucks in a research report on Friday, June 28th. Finally, HSBC lowered their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday, May 3rd. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.54.

Insider Activity

In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s 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 transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock worth $878,893 over the last 90 days. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

NASDAQ SBUX opened at $76.83 on Wednesday. The stock has a market capitalization of $87.03 billion, a P/E ratio of 21.17, a P/E/G ratio of 1.70 and a beta of 0.94. The business’s fifty day moving average is $79.44 and its two-hundred day moving average is $87.80. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66.

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

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) 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.