Starbucks Co. (NASDAQ:SBUX) Shares Sold by Whittier Trust Co.

Whittier Trust Co. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,430 shares of the coffee company’s stock after selling 334 shares during the period. Whittier Trust Co.’s holdings in Starbucks were worth $6,495,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vima LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at about $26,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the 2nd quarter valued at about $26,000. DSM Capital Partners LLC acquired a new position in Starbucks in the 4th quarter worth about $27,000. Finally, Hobbs Group Advisors LLC purchased a new position in Starbucks during the second quarter worth approximately $27,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBUX. Citigroup upped their target price on Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $81.00 to $105.00 in a report on Tuesday, August 13th. Finally, The Goldman Sachs Group initiated coverage on Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Insider Transactions at Starbucks

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

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $0.12 during mid-day trading on Thursday, reaching $95.18. 2,361,166 shares of the company were exchanged, compared to its average volume of 12,026,840. The firm has a market cap of $107.81 billion, a price-to-earnings ratio of 26.15, a P/E/G ratio of 2.28 and a beta of 0.94. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm’s 50-day simple moving average is $80.16 and its 200 day simple moving average is $83.83.

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

Starbucks Announces Dividend

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

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.