Cypress Asset Management Inc. TX Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Cypress Asset Management Inc. TX reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,565 shares of the coffee company’s stock after selling 419 shares during the period. Cypress Asset Management Inc. TX’s holdings in Starbucks were worth $783,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Scarborough Advisors LLC bought a new position in Starbucks in the 4th quarter worth $26,000. Vima LLC purchased a new stake in shares of Starbucks during the 4th quarter worth approximately $26,000. DSM Capital Partners LLC bought a new stake in Starbucks in the fourth quarter worth $27,000. Fairman Group LLC purchased a new stake in Starbucks during the fourth quarter valued at $30,000. Finally, Cypress Capital Management LLC WY lifted its position in Starbucks by 133.1% during the fourth 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 currently owned by institutional investors.

Starbucks Price Performance

NASDAQ SBUX traded up $0.77 during trading on Friday, hitting $75.88. The company’s stock had a trading volume of 15,185,688 shares, compared to its average volume of 13,858,536. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a market cap of $85.99 billion, a PE ratio of 20.90, a P/E/G ratio of 1.74 and a beta of 0.94. The business’s 50 day simple moving average is $77.62 and its 200-day simple moving average is $84.61.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same period last year, the business earned $1.00 EPS. Analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly 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 hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred 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 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. Insiders have sold a total of 7,250 shares of company stock worth $579,375 over the last quarter. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBUX. Barclays reduced their target price on shares of Starbucks from $95.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday. BTIG Research reduced their price objective on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered their price objective on Starbucks from $89.00 to $85.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Guggenheim cut their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Finally, Jefferies Financial Group decreased their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a report on Wednesday. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.88.

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.