Montag A & Associates Inc. Lowers Stake in Starbucks Co. (NASDAQ:SBUX)

Montag A & Associates Inc. trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 26.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,219 shares of the coffee company’s stock after selling 4,002 shares during the quarter. Montag A & Associates Inc.’s holdings in Starbucks were worth $873,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First National Trust Co lifted its stake in shares of Starbucks by 2.2% during the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after purchasing an additional 106 shares in the last quarter. Graybill Wealth Management LTD. lifted its holdings in Starbucks by 0.3% in 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 holdings in Starbucks by 7.9% in 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. boosted its position in Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after buying an additional 127 shares during the last quarter. Finally, Bedel Financial Consulting Inc. grew its stake in shares of Starbucks by 2.1% during the fourth quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock valued at $617,000 after acquiring an additional 132 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, 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 SEC, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the 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 completion of the sale, the chief executive officer now directly 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 worth $865,514. 1.98% of the stock is owned by insiders.

Starbucks Stock Down 0.3 %

Shares of NASDAQ SBUX opened at $94.57 on Monday. The firm’s 50-day simple moving average is $81.06 and its 200 day simple moving average is $83.83. The stock has a market cap 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 fifty-two week low of $71.55 and a fifty-two week high of $107.66.

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, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the business posted $1.00 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Jefferies Financial Group decreased their price objective on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a report on Wednesday, July 31st. Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Finally, The Goldman Sachs Group initiated coverage on Starbucks in a research note on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Starbucks 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.