Parkside Financial Bank & Trust Sells 273 Shares of Starbucks Co. (NASDAQ:SBUX)

Parkside Financial Bank & Trust cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,701 shares of the coffee company’s stock after selling 273 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Starbucks were worth $522,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Graybill Wealth Management LTD. increased its position in shares of Starbucks by 0.3% during the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after acquiring an additional 109 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of 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 during the last quarter. Astoria Portfolio Advisors LLC. grew its position in Starbucks by 2.0% during the first 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 period. Bedel Financial Consulting Inc. increased its holdings in Starbucks by 2.1% during the fourth 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 during the last quarter. Finally, Carolinas Wealth Consulting LLC raised its position in Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock worth $275,000 after acquiring an additional 133 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Transactions 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 stock was sold at an average price of $80.00, for a total value 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 $6,264,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The stock was 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 $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now 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 three months, insiders have sold 9,790 shares of company stock worth $865,514. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

NASDAQ:SBUX opened at $91.15 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market cap of $103.25 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. The business has a 50 day moving average price of $82.41 and a 200-day moving average price of $83.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. 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 prior year, the company posted $1.00 EPS. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. Research analysts predict that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SBUX. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Bank of America raised their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $98.00 price target on shares of Starbucks in a research report on Wednesday, July 31st. JPMorgan Chase & Co. cut their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $99.42.

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.