Albion Financial Group UT Has $13.17 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Albion Financial Group UT trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,096 shares of the coffee company’s stock after selling 878 shares during the period. Starbucks accounts for approximately 1.0% of Albion Financial Group UT’s holdings, making the stock its 28th largest holding. Albion Financial Group UT’s holdings in Starbucks were worth $13,169,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Scarborough Advisors LLC bought a new position in shares of Starbucks in the 4th quarter worth $26,000. Vima LLC bought a new position in Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the fourth quarter worth about $27,000. Riggs Asset Managment Co. Inc. lifted its holdings in Starbucks by 1,578.9% during the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Fairman Group LLC bought a new position in Starbucks during the fourth quarter worth about $30,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Down 0.7 %

Shares of NASDAQ:SBUX traded down $0.57 during trading on Wednesday, reaching $76.26. 4,904,957 shares of the stock were exchanged, compared to its average volume of 10,363,243. The firm has a market cap of $86.38 billion, a PE ratio of 21.06, a PEG ratio of 1.70 and a beta of 0.94. The stock has a 50-day moving average price of $79.22 and a 200-day moving average price of $87.66. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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). The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.74 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a yield of 2.99%. Starbucks’s dividend payout ratio is currently 62.81%.

Analyst Ratings Changes

SBUX has been the topic of several recent analyst reports. Piper Sandler reduced their target price on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Evercore ISI reduced their target price on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Bank of America lifted their target price on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Robert W. Baird dropped their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Finally, DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target on the stock. in a research note on Friday, May 3rd. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $94.54.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were 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 $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 related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the sale, 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. Over the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. Corporate insiders own 1.98% of the company’s stock.

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.