Starbucks Co. (NASDAQ:SBUX) Shares Sold by Obermeyer Wood Investment Counsel Lllp

Obermeyer Wood Investment Counsel Lllp lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 5.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,894 shares of the coffee company’s stock after selling 171 shares during the quarter. Obermeyer Wood Investment Counsel Lllp’s holdings in Starbucks were worth $225,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Vima LLC purchased a new stake in Starbucks in the fourth quarter valued at $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $27,000. Fairman Group LLC purchased a new position in shares of Starbucks during the 4th quarter worth $30,000. Finally, Raleigh Capital Management Inc. boosted its stake in Starbucks by 150.0% during the fourth quarter. Raleigh Capital Management Inc. now owns 330 shares of the coffee company’s stock worth $32,000 after buying an additional 198 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 $7,057,327.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s 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 sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,790 shares of company stock valued at $865,514. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX opened at $94.57 on Monday. The stock’s fifty day moving average is $81.06 and its 200-day moving average is $83.83. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a market capitalization of $107.17 billion, a PE ratio of 26.05, a P/E/G ratio of 2.26 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 EPS. On average, equities research analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal 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 given a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.41%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SBUX shares. Citigroup raised their price target on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $81.00 to $105.00 in a report on Tuesday, August 13th. Bank of America boosted their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.21.

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.