Embree Financial Group Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Embree Financial Group trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 23.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,121 shares of the coffee company’s stock after selling 969 shares during the quarter. Embree Financial Group’s holdings in Starbucks were worth $285,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Kampmann Melissa S. purchased a new stake in shares of Starbucks in the third quarter worth about $2,448,000. Willow Creek Wealth Management Inc. boosted its stake in shares of Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after buying an additional 97 shares during the last quarter. Tompkins Financial Corp boosted its stake in shares of Starbucks by 2.6% in the third quarter. Tompkins Financial Corp now owns 33,269 shares of the coffee company’s stock worth $3,036,000 after buying an additional 844 shares during the last quarter. Carlson Capital Management raised its holdings in Starbucks by 46.8% in the 3rd quarter. Carlson Capital Management now owns 3,076 shares of the coffee company’s stock worth $281,000 after purchasing an additional 980 shares during the period. Finally, Allen Mooney & Barnes Investment Advisors LLC acquired a new position in Starbucks in the 3rd quarter worth about $1,879,000. 72.29% of the stock is currently owned by hedge funds and other 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 Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related 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 transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. In the last three months, insiders sold 10,750 shares of company stock valued at $878,893. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Guggenheim reduced their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 19th. Bank of America increased their price target on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. DZ Bank cut Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price target for the company. in a report on Friday, May 3rd. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, Evercore ISI cut their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Hold” and an average price target of $94.46.

Starbucks Stock Performance

SBUX traded up $0.42 during trading on Thursday, reaching $72.93. The company’s stock had a trading volume of 5,846,884 shares, compared to its average volume of 10,329,465. Starbucks Co. has a 52-week low of $71.80 and a 52-week high of $107.66. The company has a market capitalization of $82.61 billion, a price-to-earnings ratio of 20.09, a price-to-earnings-growth ratio of 1.63 and a beta of 0.94. The company’s fifty day moving average price is $77.87 and its 200-day moving average price is $86.83.

Starbucks (NASDAQ:SBUX) last released 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). The firm had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.74 earnings per share. Equities analysts predict that Starbucks Co. will post 3.58 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. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.13%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

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.