Starbucks Co. (NASDAQ:SBUX) Shares Sold by Addenda Capital Inc.

Addenda Capital Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 62,000 shares of the coffee company’s stock after selling 173 shares during the period. Addenda Capital Inc.’s holdings in Starbucks were worth $5,663,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Sendero Wealth Management LLC boosted its stake in shares of Starbucks by 5.3% during the 1st quarter. Sendero Wealth Management LLC now owns 9,166 shares of the coffee company’s stock worth $838,000 after purchasing an additional 463 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Starbucks during the 1st quarter worth about $58,000. Fifth Third Wealth Advisors LLC boosted its stake in shares of Starbucks by 43.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,701 shares of the coffee company’s stock worth $795,000 after purchasing an additional 2,622 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in shares of Starbucks during the 1st quarter worth about $5,136,000. Finally, Hengehold Capital Management LLC boosted its stake in shares of Starbucks by 6.8% during the 1st quarter. Hengehold Capital Management LLC now owns 4,540 shares of the coffee company’s stock worth $415,000 after purchasing an additional 290 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the SEC, which is available at 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 shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated 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 owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SBUX shares. Wedbush reiterated a “neutral” rating and set a $81.00 price objective on shares of Starbucks in a report on Friday. BTIG Research cut their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. JPMorgan Chase & Co. cut their price target on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Morgan Stanley cut their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Finally, DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a report on Friday, May 3rd. Seventeen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $94.54.

Starbucks Stock Performance

Starbucks stock opened at $77.85 on Friday. The firm’s 50-day moving average is $79.66 and its 200-day moving average is $88.09. Starbucks Co. has a 1 year low of $71.80 and a 1 year high of $107.66. The company has a market cap of $88.18 billion, a P/E ratio of 21.45, a PEG ratio of 1.73 and a beta of 0.96.

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

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.93%. Starbucks’s payout ratio is currently 62.81%.

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.