Starbucks Co. (NASDAQ:SBUX) Shares Sold by Monument Capital Management

Monument Capital Management lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 23.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,441 shares of the coffee company’s stock after selling 1,384 shares during the quarter. Monument Capital Management’s holdings in Starbucks were worth $406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. Vima LLC bought a new position in Starbucks in the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new position in Starbucks in the 4th quarter worth approximately $27,000. Riggs Asset Managment Co. Inc. grew its holdings in Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after buying an additional 300 shares in the last quarter. Finally, Fairman Group LLC bought a new position in Starbucks in the 4th quarter worth approximately $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.7 %

SBUX opened at $76.26 on Thursday. The stock has a fifty day moving average of $79.22 and a 200-day moving average of $87.66. The firm has a market capitalization of $86.38 billion, a P/E ratio of 21.01, a PEG ratio of 1.68 and a beta of 0.94. Starbucks Co. has a 12-month low of $71.80 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its 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). The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 EPS. On average, analysts expect that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued 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 2.99%. Starbucks’s payout ratio is currently 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the 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 in the company, valued at $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the 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 sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock worth $878,893 over the last quarter. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SBUX shares. JPMorgan Chase & Co. decreased 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. Bank of America increased their price objective on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. The Goldman Sachs Group started coverage on Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective for the company. DZ Bank lowered Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research note on Friday, May 3rd. Finally, TD Cowen reaffirmed a “hold” rating and set a $85.00 price target on shares of Starbucks in a research note on Thursday, June 13th. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has an average rating of “Hold” and a consensus target price of $94.54.

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.