Claro Advisors LLC Sells 719 Shares of Starbucks Co. (NASDAQ:SBUX)

Claro Advisors LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,578 shares of the coffee company’s stock after selling 719 shares during the quarter. Claro Advisors LLC’s holdings in Starbucks were worth $1,241,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of SBUX. CWA Asset Management Group LLC boosted its position in Starbucks by 9.9% in the third quarter. CWA Asset Management Group LLC now owns 3,341 shares of the coffee company’s stock worth $305,000 after purchasing an additional 300 shares during the last quarter. Waverly Advisors LLC boosted its position in Starbucks by 15.7% in the third quarter. Waverly Advisors LLC now owns 5,343 shares of the coffee company’s stock worth $488,000 after purchasing an additional 726 shares during the last quarter. First Business Financial Services Inc. boosted its position in Starbucks by 5.7% in the third quarter. First Business Financial Services Inc. now owns 2,605 shares of the coffee company’s stock worth $238,000 after purchasing an additional 141 shares during the last quarter. SRS Capital Advisors Inc. boosted its position in Starbucks by 5.4% in the third quarter. SRS Capital Advisors Inc. now owns 4,258 shares of the coffee company’s stock worth $389,000 after purchasing an additional 219 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its position in Starbucks by 60.6% in the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after purchasing an additional 3,570 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity

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 value of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a legal 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 company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were 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 owns 81,199 shares in the company, valued at approximately $6,933,582.61. 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 Price Performance

Shares of NASDAQ:SBUX traded down $0.72 during trading on Monday, hitting $77.13. The company’s stock had a trading volume of 6,763,647 shares, compared to its average volume of 10,416,702. The company has a 50-day moving average of $79.66 and a 200-day moving average of $87.95. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66. The firm has a market cap of $87.37 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 1.70 and a beta of 0.94.

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 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 firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the prior year, the company posted $0.74 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current 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 paid a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.96%. Starbucks’s dividend payout ratio is currently 62.81%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research report on Friday, May 3rd. Citigroup dropped their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Evercore ISI decreased their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. Morgan Stanley decreased their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, April 12th. Finally, BTIG Research decreased their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Starbucks has an average rating of “Hold” and a consensus price target of $94.54.

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.