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

ORG Partners LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 74.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 944 shares of the coffee company’s stock after selling 2,718 shares during the quarter. ORG Partners LLC’s holdings in Starbucks were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First National Trust Co lifted its holdings in shares of Starbucks by 2.2% in the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after buying an additional 106 shares during the period. Quent Capital LLC raised its holdings in Starbucks by 2.8% during the fourth quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock worth $384,000 after purchasing an additional 108 shares during the last quarter. Graybill Wealth Management LTD. raised its holdings in Starbucks by 0.3% during the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after purchasing an additional 109 shares during the last quarter. Omega Financial Group LLC raised its holdings in Starbucks by 3.2% during the fourth quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock worth $347,000 after purchasing an additional 113 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc raised its holdings in Starbucks by 10.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,246 shares of the coffee company’s stock worth $120,000 after purchasing an additional 113 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. Evercore ISI reduced their price objective on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Piper Sandler dropped their price target on Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. DZ Bank downgraded Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a research report on Friday, May 3rd. Finally, HSBC dropped their price target on Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $93.75.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $1.53 during trading on Friday, hitting $74.83. The company’s stock had a trading volume of 8,839,159 shares, compared to its average volume of 10,366,900. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The stock’s 50-day moving average price is $77.84 and its two-hundred day moving average price is $86.74. The company has a market capitalization of $84.76 billion, a PE ratio of 20.32, a PEG ratio of 1.58 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate 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 firm’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.74 earnings per share. On average, equities analysts predict that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business 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 dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on 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 directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the 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 completion of the transaction, the chief financial officer now directly 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 valued at $878,893. 1.98% of the stock is currently owned by 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.