Embree Financial Group Sells 486 Shares of Starbucks Co. (NASDAQ:SBUX)

Embree Financial Group reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 15.6% during the 2nd quarter, HoldingsChannel reports. The fund owned 2,635 shares of the coffee company’s stock after selling 486 shares during the quarter. Embree Financial Group’s holdings in Starbucks were worth $205,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SBUX. Graybill Wealth Management LTD. lifted its position in Starbucks by 0.3% during the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after buying an additional 109 shares in the last quarter. Versant Capital Management Inc lifted its position in Starbucks by 7.9% during the 1st quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its position in Starbucks by 2.0% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after buying an additional 127 shares in the last quarter. Bedel Financial Consulting Inc. lifted its position in Starbucks by 2.1% during the 4th quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock worth $617,000 after buying an additional 132 shares in the last quarter. Finally, Carolinas Wealth Consulting LLC lifted its position in Starbucks by 4.9% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after buying an additional 133 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SBUX has been the topic of several analyst reports. Bank of America boosted their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Barclays boosted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. BMO Capital Markets lowered their price objective on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Finally, TD Cowen upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $81.00 to $105.00 in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $99.21.

Starbucks Stock Down 0.3 %

NASDAQ SBUX opened at $94.57 on Tuesday. The company has a market capitalization of $107.17 billion, a P/E ratio of 26.05, a P/E/G ratio of 2.26 and a beta of 0.94. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a 50-day moving average price of $81.35 and a two-hundred day moving average price of $83.84.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The firm 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%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.00 EPS. Equities analysts expect that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Announces Dividend

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

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 9,790 shares of company stock valued at $865,514. Company insiders own 1.98% of the company’s stock.

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.