Cobblestone Capital Advisors LLC NY Sells 487 Shares of Starbucks Co. (NASDAQ:SBUX)

Cobblestone Capital Advisors LLC NY lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,354 shares of the coffee company’s stock after selling 487 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Starbucks were worth $572,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Cox Capital Mgt LLC lifted its holdings in shares of Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after acquiring an additional 13,372 shares during the last quarter. Brevan Howard Capital Management LP purchased a new stake in Starbucks during the fourth quarter valued at approximately $2,781,000. Sanibel Captiva Trust Company Inc. bought a new stake in shares of Starbucks in the 4th quarter valued at approximately $31,246,000. Fidelis Capital Partners LLC boosted its holdings in shares of Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the period. Finally, Bell & Brown Wealth Advisors LLC bought a new stake in Starbucks in the fourth quarter worth $4,048,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX traded down $0.41 during midday trading on Friday, reaching $91.15. 9,257,004 shares of the stock traded hands, compared to its average volume of 11,966,935. The business has a 50-day moving average of $82.41 and a two-hundred day moving average of $83.94. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market capitalization of $103.25 billion, a PE ratio of 25.11, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter last year, the firm earned $1.00 EPS. The business’s quarterly revenue was down .6% on a year-over-year basis. Research analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SBUX. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Morgan Stanley restated an “overweight” rating and set a $98.00 target price on shares of Starbucks in a research report on Wednesday, July 31st. Barclays upped their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Finally, TD Cowen upped their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.42.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,790 shares of company stock worth $865,514. 1.98% of the stock is owned by corporate insiders.

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.