CHURCHILL MANAGEMENT Corp Sells 24,084 Shares of Starbucks Co. (NASDAQ:SBUX)

CHURCHILL MANAGEMENT Corp trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 59.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,095 shares of the coffee company’s stock after selling 24,084 shares during the period. CHURCHILL MANAGEMENT Corp’s holdings in Starbucks were worth $1,471,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $26,000. Vima LLC bought a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new position in Starbucks during the 4th quarter valued at $27,000. Fairman Group LLC purchased a new position in Starbucks during the 4th quarter valued at $30,000. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in Starbucks by 1,578.9% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock valued at $29,000 after acquiring an additional 300 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now 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 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by insiders.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $79.91 on Friday. The business’s 50-day moving average is $80.39 and its 200 day moving average is $88.66. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The firm has a market capitalization of $90.51 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.74 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the company earned $0.74 earnings per share. The company’s quarterly revenue was down 1.8% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.85%. Starbucks’s payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SBUX shares. JPMorgan Chase & Co. dropped their price objective on Starbucks from $100.00 to $92.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. UBS Group dropped their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. HSBC dropped their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Evercore ISI dropped their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Finally, Jefferies Financial Group decreased their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $95.00.

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.