Starbucks Co. (NASDAQ:SBUX) Shares Sold by Lincoln Capital LLC

Lincoln Capital LLC lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 178,632 shares of the coffee company’s stock after selling 839 shares during the quarter. Starbucks accounts for about 3.6% of Lincoln Capital LLC’s portfolio, making the stock its 8th biggest position. Lincoln Capital LLC’s holdings in Starbucks were worth $16,325,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Chesley Taft & Associates LLC lifted its holdings in shares of Starbucks by 0.7% in the first quarter. Chesley Taft & Associates LLC now owns 74,206 shares of the coffee company’s stock valued at $6,782,000 after purchasing an additional 500 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Starbucks by 5.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 531,320 shares of the coffee company’s stock worth $48,557,000 after acquiring an additional 25,772 shares during the last quarter. Procyon Advisors LLC grew its stake in shares of Starbucks by 6.4% during the 1st quarter. Procyon Advisors LLC now owns 32,074 shares of the coffee company’s stock worth $2,931,000 after acquiring an additional 1,927 shares in the last quarter. Cardinal Capital Management raised its holdings in shares of Starbucks by 10.2% in the first quarter. Cardinal Capital Management now owns 78,875 shares of the coffee company’s stock valued at $7,208,000 after purchasing an additional 7,292 shares during the last quarter. Finally, ERn Financial LLC lifted its position in shares of Starbucks by 4.1% in the first quarter. ERn Financial LLC now owns 4,514 shares of the coffee company’s stock worth $413,000 after purchasing an additional 177 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,750 shares of company stock worth $878,893. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX traded down $0.83 during mid-day trading on Friday, reaching $78.41. The company had a trading volume of 2,932,520 shares, compared to its average volume of 10,361,723. The company’s 50 day simple moving average is $80.02 and its 200 day simple moving average is $88.29. The company has a market capitalization of $88.82 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 1.73 and a beta of 0.96. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its 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 negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the previous year, the firm posted $0.74 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Starbucks Co. will post 3.59 earnings per share for the current fiscal 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 paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SBUX. Stifel Nicolaus decreased their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Friday, May 3rd. Morgan Stanley dropped their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Evercore ISI lowered their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, HSBC dropped their price objective on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Seventeen analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.