Mogy Joel R Investment Counsel Inc. Sells 5,718 Shares of Starbucks Co. (NASDAQ:SBUX)

Mogy Joel R Investment Counsel Inc. cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,380 shares of the coffee company’s stock after selling 5,718 shares during the quarter. Starbucks makes up 2.5% of Mogy Joel R Investment Counsel Inc.’s portfolio, making the stock its 18th largest position. Mogy Joel R Investment Counsel Inc.’s holdings in Starbucks were worth $32,488,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Willow Creek Wealth Management Inc. raised its holdings in shares of Starbucks by 3.0% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after purchasing an additional 97 shares during the period. Valley Brook Capital Group Inc. raised its holdings in shares of Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock valued at $383,000 after purchasing an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. raised its holdings in shares of Starbucks by 4.6% in the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after purchasing an additional 100 shares during the period. Herold Advisors Inc. raised its holdings in shares of Starbucks by 4.3% in the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock valued at $221,000 after purchasing an additional 100 shares during the period. Finally, Rodgers Brothers Inc. raised its holdings in shares of Starbucks by 1.2% in the 3rd quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock valued at $755,000 after purchasing an additional 100 shares during the period. 72.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SBUX shares. Wedbush dropped their target price on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, April 19th. Citigroup decreased their price target on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Gordon Haskett lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target on the stock. in a research note on Tuesday, January 16th. Finally, Jefferies Financial Group decreased their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a research note on Tuesday, April 16th. Fourteen analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $106.55.

Starbucks Stock Up 0.5 %

NASDAQ:SBUX traded up $0.41 during trading hours on Friday, reaching $88.25. The company had a trading volume of 7,185,257 shares, compared to its average volume of 7,387,159. The firm has a market cap of $99.92 billion, a price-to-earnings ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97. The business’s 50-day simple moving average is $90.36 and its two-hundred day simple moving average is $94.27. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 3.99 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 7,250 shares of company stock valued at $651,738 over the last ninety days. Corporate insiders own 1.98% of the company’s stock.

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.