SteelPeak Wealth LLC Has $1.62 Million Stake in Starbucks Co. (NASDAQ:SBUX)

SteelPeak Wealth LLC lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 66.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 20,782 shares of the coffee company’s stock after selling 41,272 shares during the period. SteelPeak Wealth LLC’s holdings in Starbucks were worth $1,618,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Vima LLC acquired a new stake in Starbucks in the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks during the fourth quarter worth about $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the fourth quarter worth about $27,000. Fairman Group LLC acquired a new position in shares of Starbucks in the fourth quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY boosted its holdings in Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Guggenheim dropped their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. UBS Group cut their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Jefferies Financial Group dropped their price objective on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Finally, William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. Twelve analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $98.79.

Starbucks Trading Up 1.0 %

Shares of SBUX stock traded up $0.98 during trading hours on Thursday, hitting $94.88. 21,070,244 shares of the company were exchanged, compared to its average volume of 12,034,914. The stock has a market capitalization of $107.52 billion, a price-to-earnings ratio of 25.79, a P/E/G ratio of 1.80 and a beta of 0.94. The firm has a fifty day simple moving average of $77.69 and a 200 day simple moving average of $83.91. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

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

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction 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 in the company, valued at $5,234,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’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 transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,540 shares of company stock valued at $879,291. Company insiders own 1.98% of the company’s stock.

Starbucks 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.