Starbucks Co. (NASDAQ:SBUX) Shares Sold by ZRC Wealth Management LLC

ZRC Wealth Management LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 33.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 958 shares of the coffee company’s stock after selling 487 shares during the period. ZRC Wealth Management LLC’s holdings in Starbucks were worth $88,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Scarborough Advisors LLC purchased a new position in Starbucks in the fourth quarter worth approximately $26,000. Vima LLC purchased a new position in Starbucks in the fourth quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $27,000. Fairman Group LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $30,000. Finally, Riggs Asset Managment Co. Inc. lifted its position in shares of Starbucks by 1,578.9% during 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 during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Wedbush restated a “neutral” rating and set a $81.00 price objective on shares of Starbucks in a research report on Friday, June 28th. TD Cowen reiterated a “hold” rating and issued a $85.00 price target on shares of Starbucks in a research report on Thursday, June 13th. Citigroup cut their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Guggenheim dropped their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research note on Friday, April 19th. Finally, UBS Group cut their target price on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Hold” and an average target price of $94.54.

Starbucks Stock Performance

Starbucks stock opened at $76.26 on Friday. Starbucks Co. has a one year low of $71.80 and a one year high of $107.66. The firm has a market capitalization of $86.38 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 1.67 and a beta of 0.94. The stock’s 50 day moving average price is $78.74 and its 200 day moving average price is $87.50.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter last year, the firm posted $0.74 earnings per share. Starbucks’s revenue was down 1.8% compared to the same quarter last year. On average, analysts forecast that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared 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 is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.99%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the transaction, the chief executive officer now directly owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by insiders.

Starbucks Company 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.