Starbucks Co. (NASDAQ:SBUX) Shares Sold by Leeward Financial Partners LLC

Leeward Financial Partners LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 47.4% during the first quarter, HoldingsChannel.com reports. The fund owned 8,852 shares of the coffee company’s stock after selling 7,967 shares during the quarter. Leeward Financial Partners LLC’s holdings in Starbucks were worth $809,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vima LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter worth $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks in the 4th quarter worth $27,000. Riggs Asset Managment Co. Inc. lifted its holdings in Starbucks by 1,578.9% in 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 during the last quarter. Finally, Fairman Group LLC bought a new position in Starbucks in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several recent analyst reports. BTIG Research dropped their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a report on Wednesday, May 1st. Wedbush reiterated a “neutral” rating and set a $81.00 price objective on shares of Starbucks in a research report on Friday, June 28th. The Goldman Sachs Group began coverage on shares of Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Morgan Stanley decreased their target price on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Finally, UBS Group decreased their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $94.54.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 transaction, 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 available through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was 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 owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders sold a total of 10,750 shares of company stock worth $878,893 over the last quarter. Insiders own 1.98% of the company’s stock.

Starbucks Stock Down 0.7 %

NASDAQ SBUX traded down $0.57 on Wednesday, hitting $76.26. The company’s stock had a trading volume of 4,906,747 shares, compared to its average volume of 10,363,257. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The company’s 50-day moving average is $79.22 and its 200 day moving average is $87.66. 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.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm 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 revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.74 earnings per share. On average, equities analysts expect that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.99%. Starbucks’s dividend payout ratio is currently 62.81%.

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.