Starbucks Co. (NASDAQ:SBUX) Shares Sold by Claro Advisors LLC

Claro Advisors LLC cut its position in Starbucks Co. (NASDAQ:SBUX) by 8.1% in the second quarter, Holdings Channel reports. The firm owned 12,481 shares of the coffee company’s stock after selling 1,097 shares during the period. Claro Advisors LLC’s holdings in Starbucks were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in SBUX. Cox Capital Mgt LLC lifted its position in Starbucks by 41.9% during the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after acquiring an additional 13,372 shares during the period. Summa Corp. acquired a new stake in Starbucks during the 4th quarter worth approximately $384,000. Brevan Howard Capital Management LP acquired a new stake in Starbucks during the 4th quarter worth approximately $2,781,000. Sanibel Captiva Trust Company Inc. acquired a new stake in Starbucks during the 4th quarter worth approximately $31,246,000. Finally, Fidelis Capital Partners LLC lifted its position in Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after acquiring an additional 1,751 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $5,697,682.32. 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. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SBUX. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price objective on shares of Starbucks in a research report on Wednesday, July 31st. Jefferies Financial Group cut their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $99.21.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $94.57 on Monday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a market capitalization of $107.17 billion, a P/E ratio of 26.05, a PEG ratio of 2.26 and a beta of 0.94. The stock has a 50-day simple moving average of $81.06 and a 200-day simple moving average of $83.83.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.41%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 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.