Mount Vernon Associates Inc. MD Has $1.62 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Mount Vernon Associates Inc. MD cut its stake in Starbucks Co. (NASDAQ:SBUX) by 7.6% in the second quarter, Holdings Channel.com reports. The firm owned 20,832 shares of the coffee company’s stock after selling 1,725 shares during the period. Starbucks makes up approximately 1.4% of Mount Vernon Associates Inc. MD’s holdings, making the stock its 21st largest holding. Mount Vernon Associates Inc. MD’s holdings in Starbucks were worth $1,622,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Vima LLC bought a new position in shares of Starbucks during the 4th quarter worth about $26,000. Scarborough Advisors LLC bought a new position in Starbucks during the 4th quarter valued at about $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the 4th quarter valued at about $27,000. Fairman Group LLC bought a new position in Starbucks during the 4th quarter valued at about $30,000. Finally, Cypress Capital Management LLC WY lifted its holdings in Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SBUX. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the company from $80.00 to $120.00 in a report on Wednesday. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Wedbush reissued a “neutral” rating and set a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, TD Cowen upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $81.00 to $105.00 in a research report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $98.79.

Starbucks Price Performance

Shares of Starbucks stock traded up $0.50 on Friday, hitting $94.81. The company had a trading volume of 16,336,331 shares, compared to its average volume of 22,615,598. The firm has a market capitalization of $107.39 billion, a P/E ratio of 26.12, a P/E/G ratio of 2.25 and a beta of 0.94. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a 50-day moving average of $78.23 and a 200-day moving average of $83.92.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. Equities analysts predict that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The business 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. This represents a $2.28 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders sold 10,540 shares of company stock worth $879,291 over the last quarter. 1.98% of the stock is currently owned by company insiders.

About Starbucks

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.