Claro Advisors LLC Decreases Position in Starbucks Co. (NASDAQ:SBUX)

Claro Advisors LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% during the first quarter, Holdings Channel reports. The firm owned 13,578 shares of the coffee company’s stock after selling 719 shares during the quarter. Claro Advisors LLC’s holdings in Starbucks were worth $1,241,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vima LLC acquired a new position in shares of Starbucks in the fourth quarter worth $26,000. Scarborough Advisors LLC acquired a new position in shares of Starbucks in the fourth quarter worth $26,000. DSM Capital Partners LLC acquired a new position in shares of Starbucks in the fourth quarter worth $27,000. Riggs Asset Managment Co. Inc. raised its holdings in shares of Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Fairman Group LLC acquired a new position in shares of Starbucks in the fourth quarter worth $30,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. Stifel Nicolaus dropped their target price on Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. DZ Bank lowered Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research note on Friday, May 3rd. BTIG Research dropped their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 1st. Jefferies Financial Group dropped their target price on Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, Morgan Stanley dropped their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Seventeen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $94.54.

Starbucks Trading Down 0.9 %

NASDAQ SBUX traded down $0.72 during trading hours on Monday, reaching $77.13. 6,763,647 shares of the company traded hands, compared to its average volume of 10,416,702. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66. The stock has a market capitalization of $87.37 billion, a PE ratio of 21.27, a PEG ratio of 1.70 and a beta of 0.94. The company has a 50 day moving average of $79.66 and a two-hundred day moving average of $87.95.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter last year, the company earned $0.74 earnings per share. The company’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.96%. Starbucks’s payout ratio is currently 62.81%.

Insider Transactions at Starbucks

In other 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 directly owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by insiders.

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.