Starbucks Co. (NASDAQ:SBUX) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co reduced its position in Starbucks Co. (NASDAQ:SBUX) by 15.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,319 shares of the coffee company’s stock after selling 2,102 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Starbucks were worth $881,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Foster Group Inc. lifted its holdings in shares of Starbucks by 7.6% during the second quarter. Foster Group Inc. now owns 2,804 shares of the coffee company’s stock worth $218,000 after purchasing an additional 199 shares during the period. Maryland State Retirement & Pension System lifted its holdings in shares of Starbucks by 1.0% during the second quarter. Maryland State Retirement & Pension System now owns 88,321 shares of the coffee company’s stock worth $6,876,000 after purchasing an additional 885 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of Starbucks during the second quarter worth $4,373,000. Moloney Securities Asset Management LLC lifted its holdings in shares of Starbucks by 17.7% during the second quarter. Moloney Securities Asset Management LLC now owns 41,107 shares of the coffee company’s stock worth $3,200,000 after purchasing an additional 6,183 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Starbucks by 1.0% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 121,714 shares of the coffee company’s stock worth $9,475,000 after purchasing an additional 1,242 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on SBUX shares. Barclays raised their target price on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price for the company. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. JPMorgan Chase & Co. reduced their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, July 10th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,790 shares of company stock valued at $865,514. Insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.3 %

Starbucks stock opened at $94.57 on Friday. The stock has a market cap of $107.17 billion, a PE ratio of 26.05, a P/E/G ratio of 2.26 and a beta of 0.94. The stock has a 50-day moving average price of $81.06 and a 200 day moving average price of $83.98. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.00 EPS. On average, equities analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Friday, August 16th. Starbucks’s payout ratio is 62.81%.

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.