Signaturefd LLC Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Signaturefd LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 11.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,603 shares of the coffee company’s stock after selling 3,671 shares during the quarter. Signaturefd LLC’s holdings in Starbucks were worth $2,149,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SBUX. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Starbucks by 97.3% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,371,633 shares of the coffee company’s stock valued at $106,782,000 after buying an additional 676,431 shares in the last quarter. Vantage Investment Partners LLC grew its position in shares of Starbucks by 20.5% in the 2nd quarter. Vantage Investment Partners LLC now owns 158,605 shares of the coffee company’s stock worth $12,347,000 after buying an additional 26,985 shares during the period. Modera Wealth Management LLC increased its stake in shares of Starbucks by 4.9% in the 2nd quarter. Modera Wealth Management LLC now owns 147,763 shares of the coffee company’s stock worth $11,503,000 after acquiring an additional 6,837 shares in the last quarter. Finally, Callahan Advisors LLC lifted its position in Starbucks by 65.4% during the 2nd quarter. Callahan Advisors LLC now owns 33,326 shares of the coffee company’s stock valued at $2,594,000 after acquiring an additional 13,183 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value 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 $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 sale, 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. In the last 90 days, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is owned by company insiders.

Starbucks Trading Down 0.3 %

Starbucks stock opened at $94.57 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market capitalization of $107.12 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 2.28 and a beta of 0.94. The firm has a 50 day moving average of $80.76 and a 200 day moving average of $83.98.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business posted $1.00 earnings per share. On average, analysts predict that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced 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 dividend yield of 2.41%. The ex-dividend date of this dividend was Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SBUX shares. Citigroup upped their price objective on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $81.00 to $105.00 in a research note on Tuesday, August 13th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. BMO Capital Markets cut their target price on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, HSBC lowered their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. One equities 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 issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.