AdvisorNet Financial Inc Lowers Holdings in Starbucks Co. (NASDAQ:SBUX)

AdvisorNet Financial Inc lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,891 shares of the coffee company’s stock after selling 133 shares during the quarter. AdvisorNet Financial Inc’s holdings in Starbucks were worth $147,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Vima LLC purchased a new position in Starbucks during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new position in Starbucks during the fourth quarter worth approximately $26,000. DSM Capital Partners LLC acquired a new stake in Starbucks in the fourth quarter valued at approximately $27,000. Fairman Group LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at approximately $30,000. Finally, Cypress Capital Management LLC WY raised its stake in shares of Starbucks by 133.1% during the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SBUX shares. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a report on Wednesday. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a report on Tuesday. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a research report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $98.79.

Starbucks Trading Up 0.3 %

NASDAQ:SBUX traded up $0.27 during trading hours on Thursday, hitting $94.17. The stock had a trading volume of 15,812,098 shares, compared to its average volume of 12,001,562. The business has a 50 day simple moving average of $77.69 and a two-hundred day simple moving average of $83.91. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market cap of $106.71 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 1.80 and a beta of 0.94.

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

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 of the company’s stock, valued at $5,234,480. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders sold a total of 7,250 shares of company stock worth $579,375 over the last 90 days. Insiders own 1.98% of the company’s stock.

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.