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

Diversified LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 8.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,748 shares of the coffee company’s stock after selling 347 shares during the period. Diversified LLC’s holdings in Starbucks were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vima LLC purchased a new position in Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new position in Starbucks during the fourth quarter valued at $26,000. DSM Capital Partners LLC purchased a new stake in Starbucks in the 4th quarter worth about $27,000. Hobbs Group Advisors LLC acquired a new stake in Starbucks during the 2nd quarter worth about $27,000. Finally, Fairman Group LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $30,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX traded up $1.59 on Friday, hitting $94.02. The company’s stock had a trading volume of 11,483,711 shares, compared to its average volume of 12,025,455. The company has a market capitalization of $106.50 billion, a PE ratio of 25.90, a PEG ratio of 2.28 and a beta of 0.94. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a 50 day moving average price of $79.51 and a 200 day moving average price of $83.99.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the company posted $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. On average, equities analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The transaction was disclosed in a 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 on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders sold 9,790 shares of company stock worth $865,514 in the last quarter. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. William Blair lowered shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Wells Fargo & Company cut their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. BMO Capital Markets reduced their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $99.21.

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.