Harbour Investments Inc. Sells 374 Shares of Starbucks Co. (NASDAQ:SBUX)

Harbour Investments Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,387 shares of the coffee company’s stock after selling 374 shares during the period. Harbour Investments Inc.’s holdings in Starbucks were worth $1,042,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of SBUX. GUNN & Co INVESTMENT MANAGEMENT INC. boosted its position in shares of Starbucks by 1,299.8% during the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 466,506 shares of the coffee company’s stock worth $44,789,000 after purchasing an additional 433,179 shares in the last quarter. Legacy Capital Wealth Partners LLC raised its holdings in shares of Starbucks by 6.5% during the fourth quarter. Legacy Capital Wealth Partners LLC now owns 2,873 shares of the coffee company’s stock worth $276,000 after acquiring an additional 175 shares during the period. Mather Group LLC. raised its holdings in shares of Starbucks by 10.0% during the fourth quarter. Mather Group LLC. now owns 18,413 shares of the coffee company’s stock worth $1,768,000 after acquiring an additional 1,669 shares during the period. McAdam LLC raised its holdings in shares of Starbucks by 3.3% during the fourth quarter. McAdam LLC now owns 3,826 shares of the coffee company’s stock worth $367,000 after acquiring an additional 124 shares during the period. Finally, Choreo LLC raised its holdings in shares of Starbucks by 24.7% during the fourth quarter. Choreo LLC now owns 29,236 shares of the coffee company’s stock worth $2,807,000 after acquiring an additional 5,797 shares during the period. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders sold a total of 9,790 shares of company stock worth $865,514 over the last 90 days. 1.98% of the stock is owned by insiders.

Starbucks Stock Performance

NASDAQ SBUX traded down $3.67 during trading hours on Wednesday, reaching $94.93. The stock had a trading volume of 7,745,206 shares, compared to its average volume of 12,042,087. The stock has a fifty day moving average of $79.79 and a 200 day moving average of $83.82. The stock has a market cap of $107.53 billion, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

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

Starbucks Dividend Announcement

The business 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 2.40%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on SBUX shares. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. HSBC lowered their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Barclays boosted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Citigroup increased their price target on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 14th. Finally, William Blair cut shares of Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.21.

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.