Joel Isaacson & Co. LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 4.4% in the second quarter, Holdings Channel reports. The fund owned 6,422 shares of the coffee company’s stock after selling 298 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Starbucks were worth $491,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of SBUX. Guardian Wealth Management Inc. bought a new stake in Starbucks in the fourth quarter worth $25,000. Bromfield Sneider Wealth Advisors bought a new stake in Starbucks in the first quarter worth $25,000. Burleson & Company LLC lifted its position in Starbucks by 2,660.0% in the first quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock worth $25,000 after buying an additional 266 shares during the last quarter. Delos Wealth Advisors LLC bought a new stake in Starbucks in the fourth quarter worth $28,000. Finally, Herold Advisors Inc. bought a new stake in Starbucks in the first quarter worth $29,000. 67.97% of the stock is currently owned by institutional investors.
Starbucks Stock Performance
SBUX traded down $0.93 on Friday, hitting $83.77. The company had a trading volume of 248,403 shares, compared to its average volume of 8,858,840. The stock has a fifty day moving average price of $86.02 and a 200-day moving average price of $81.48. Starbucks Co. has a 12-month low of $68.39 and a 12-month high of $117.80. The stock has a market capitalization of $96.12 billion, a price-to-earnings ratio of 23.62, a P/E/G ratio of 2.39 and a beta of 0.94.
Starbucks Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.34%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s dividend payout ratio is presently 55.21%.
Insiders Place Their Bets
In other Starbucks news, Director Mellody L. Hobson purchased 54,750 shares of the stock in a transaction on Thursday, September 15th. The stock was acquired at an average price of $92.58 per share, with a total value of $5,068,755.00. Following the completion of the acquisition, the director now owns 433,254 shares in the company, valued at $40,110,655.32. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, Director Mellody L. Hobson bought 54,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average price of $92.58 per share, with a total value of $5,068,755.00. Following the completion of the acquisition, the director now directly owns 433,254 shares of the company’s stock, valued at approximately $40,110,655.32. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $93.00, for a total value of $373,860.00. Following the sale, the executive vice president now directly owns 36,337 shares of the company’s stock, valued at approximately $3,379,341. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.
Analyst Upgrades and Downgrades
SBUX has been the subject of a number of analyst reports. Barclays raised their price target on Starbucks from $96.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 14th. Citigroup lifted their target price on Starbucks from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 7th. Cowen lifted their target price on Starbucks from $94.00 to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, August 18th. JPMorgan Chase & Co. lifted their target price on Starbucks from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 14th. Finally, Wedbush lifted their target price on Starbucks from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 14th. Sixteen equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average target price of $103.50.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.
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