Atlas Brown Inc. Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Atlas Brown Inc. lowered its position in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 2.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,314 shares of the coffee company’s stock after selling 212 shares during the period. Atlas Brown Inc.’s holdings in Starbucks were worth $559,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Guardian Wealth Management Inc. purchased a new position in Starbucks in the 4th quarter worth approximately $25,000. Delos Wealth Advisors LLC purchased a new position in Starbucks in the 4th quarter worth approximately $28,000. Bromfield Sneider Wealth Advisors purchased a new position in Starbucks in the 1st quarter worth approximately $25,000. Burleson & Company LLC grew its stake in Starbucks by 2,660.0% in the 1st quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock worth $25,000 after buying an additional 266 shares in the last quarter. Finally, Herold Advisors Inc. purchased a new position in Starbucks in the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 67.97% of the company’s stock.

Starbucks Stock Down 1.0 %

Shares of NASDAQ:SBUX traded down $0.82 during midday trading on Friday, reaching $83.88. The company’s stock had a trading volume of 333,379 shares, compared to its average volume of 8,858,840. The firm has a 50 day moving average of $86.02 and a 200-day moving average of $81.48. The firm has a market capitalization of $96.24 billion, a P/E ratio of 23.62, a PEG ratio of 2.39 and a beta of 0.94. Starbucks Co. has a 12-month low of $68.39 and a 12-month high of $117.80.

Starbucks (NASDAQ:SBUXGet Rating) last released its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The firm had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.22 billion. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the prior year, the firm earned $1.01 EPS. On average, research analysts predict that Starbucks Co. will post 2.88 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Friday, August 12th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date was Thursday, August 11th. Starbucks’s dividend payout ratio is presently 55.21%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. Wedbush boosted their price target on shares of Starbucks from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 14th. Morgan Stanley boosted their price target on shares of Starbucks from $88.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 15th. Barclays upped their price objective on shares of Starbucks from $96.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, September 14th. Sanford C. Bernstein initiated coverage on shares of Starbucks in a research note on Wednesday, September 7th. They issued a “market perform” rating and a $94.00 price objective for the company. Finally, Piper Sandler upped their price objective on shares of Starbucks from $84.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, September 16th. Sixteen analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $103.50.

Insider Transactions at Starbucks

In related news, EVP Zabrina Jenkins sold 4,020 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mellody L. Hobson acquired 54,750 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were bought at an average cost of $92.58 per share, with a total value of $5,068,755.00. Following the transaction, the director now owns 433,254 shares of the company’s stock, valued at approximately $40,110,655.32. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Zabrina Jenkins sold 4,020 shares of the stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the sale, the executive vice president now directly owns 36,337 shares in the company, valued at $3,379,341. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Starbucks Profile

(Get Rating)

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.

Further Reading

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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