Starbucks Co. (NASDAQ:SBUX) Shares Sold by Saratoga Research & Investment Management

Saratoga Research & Investment Management lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 531,438 shares of the coffee company’s stock after selling 6,691 shares during the period. Starbucks makes up about 2.2% of Saratoga Research & Investment Management’s investment portfolio, making the stock its 18th largest holding. Saratoga Research & Investment Management’s holdings in Starbucks were worth $48,568,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Grimes & Company Inc. increased its holdings in shares of Starbucks by 4.3% in the first quarter. Grimes & Company Inc. now owns 76,799 shares of the coffee company’s stock valued at $7,019,000 after buying an additional 3,178 shares in the last quarter. WoodTrust Financial Corp increased its holdings in shares of Starbucks by 2.5% in the first quarter. WoodTrust Financial Corp now owns 64,924 shares of the coffee company’s stock valued at $5,933,000 after buying an additional 1,577 shares in the last quarter. Griffin Asset Management Inc. increased its holdings in shares of Starbucks by 6.2% in the first quarter. Griffin Asset Management Inc. now owns 105,146 shares of the coffee company’s stock valued at $9,609,000 after buying an additional 6,131 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in shares of Starbucks by 3.6% in the first quarter. Toth Financial Advisory Corp now owns 52,045 shares of the coffee company’s stock valued at $4,756,000 after buying an additional 1,807 shares in the last quarter. Finally, Trifecta Capital Advisors LLC increased its holdings in shares of Starbucks by 4.0% in the first quarter. Trifecta Capital Advisors LLC now owns 27,826 shares of the coffee company’s stock valued at $2,543,000 after buying an additional 1,072 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Stifel Nicolaus cut their target price on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley cut their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research note on Friday, May 3rd. Wells Fargo & Company cut their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Finally, Bank of America boosted their target price on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Hold” and a consensus price target of $94.54.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’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 completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold a total of 10,750 shares of company stock worth $878,893 in the last 90 days. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 1.7 %

NASDAQ:SBUX traded down $1.39 during mid-day trading on Friday, hitting $77.85. The company’s stock had a trading volume of 13,207,542 shares, compared to its average volume of 10,825,160. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The company has a market capitalization of $88.18 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.73 and a beta of 0.96. The stock has a fifty day moving average of $79.66 and a 200-day moving average of $88.02.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $9.12 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors 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 2.93%. Starbucks’s dividend payout ratio is 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.