Starbucks Co. (NASDAQ:SBUX) Shares Sold by Waters Parkerson & CO. LLC

Waters Parkerson & CO. LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 12.8% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,093 shares of the coffee company’s stock after selling 600 shares during the period. Waters Parkerson & CO. LLC’s holdings in Starbucks were worth $458,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Andesa Financial Management Inc. purchased a new position in shares of Starbucks in the 2nd quarter valued at about $215,000. EagleClaw Capital Managment LLC increased its holdings in shares of Starbucks by 0.3% in the 2nd quarter. EagleClaw Capital Managment LLC now owns 34,065 shares of the coffee company’s stock valued at $3,809,000 after purchasing an additional 100 shares in the last quarter. Mission Wealth Management LP increased its holdings in shares of Starbucks by 5.8% in the 2nd quarter. Mission Wealth Management LP now owns 23,170 shares of the coffee company’s stock valued at $2,591,000 after purchasing an additional 1,273 shares in the last quarter. Resources Management Corp CT ADV increased its holdings in shares of Starbucks by 3.4% in the 2nd quarter. Resources Management Corp CT ADV now owns 20,832 shares of the coffee company’s stock valued at $2,329,000 after purchasing an additional 682 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in shares of Starbucks by 0.8% in the 2nd quarter. Westfield Capital Management Co. LP now owns 10,840 shares of the coffee company’s stock valued at $1,212,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 68.27% of the company’s stock.

Shares of SBUX traded down $1.15 during mid-day trading on Friday, hitting $113.52. The company had a trading volume of 96,282 shares, compared to its average volume of 5,893,252. The business’s 50-day simple moving average is $118.13 and its 200-day simple moving average is $114.02. Starbucks Co. has a 1-year low of $81.75 and a 1-year high of $126.32. The stock has a market cap of $133.85 billion, a PE ratio of 47.98, a P/E/G ratio of 3.06 and a beta of 0.88.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Monday, July 26th. The coffee company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.23. The firm had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.26 billion. Starbucks had a net margin of 10.43% and a negative return on equity of 43.16%. Starbucks’s revenue was up 77.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.46) earnings per share. Research analysts forecast that Starbucks Co. will post 3.25 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 27th. Shareholders of record on Thursday, August 12th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Wednesday, August 11th. This represents a $1.80 dividend on an annualized basis and a yield of 1.59%. Starbucks’s dividend payout ratio (DPR) is 153.85%.

A number of equities analysts have recently issued reports on SBUX shares. Oppenheimer increased their price target on shares of Starbucks from $135.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, July 16th. Deutsche Bank Aktiengesellschaft started coverage on shares of Starbucks in a report on Thursday, September 2nd. They set a “hold” rating and a $127.00 target price for the company. Wells Fargo & Company started coverage on shares of Starbucks in a report on Sunday, June 20th. They set a “buy” rating for the company. Barclays raised their target price on shares of Starbucks from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Wednesday, July 28th. Finally, Cowen raised their target price on shares of Starbucks from $126.00 to $135.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Nine analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $126.15.

In other news, COO John Culver sold 148,619 shares of the business’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $119.00, for a total transaction of $17,685,661.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kevin R. Johnson sold 359,177 shares of the business’s stock in a transaction on Thursday, July 29th. The stock was sold at an average price of $122.81, for a total transaction of $44,110,527.37. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.

Starbucks Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

Further Reading: What is the Gross Domestic Product (GDP)?

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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