Starbucks Co. (NASDAQ:SBUX) Shares Sold by Raub Brock Capital Management LP

Raub Brock Capital Management LP cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,104 shares of the coffee company’s stock after selling 4,498 shares during the period. Starbucks makes up about 2.9% of Raub Brock Capital Management LP’s investment portfolio, making the stock its 23rd largest holding. Raub Brock Capital Management LP’s holdings in Starbucks were worth $13,901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Willow Creek Wealth Management Inc. lifted its position in Starbucks by 3.0% in the third quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock worth $302,000 after purchasing an additional 97 shares during the period. First National Trust Co lifted its position in Starbucks by 2.2% in the fourth quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after purchasing an additional 106 shares during the period. Quent Capital LLC lifted its position in Starbucks by 2.8% in the fourth quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock worth $384,000 after purchasing an additional 108 shares during the period. Graybill Wealth Management LTD. lifted its position in Starbucks by 0.3% in the fourth quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock worth $3,849,000 after purchasing an additional 109 shares during the period. Finally, Omega Financial Group LLC lifted its position in Starbucks by 3.2% in the fourth quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock worth $347,000 after purchasing an additional 113 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 completion of the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,750 shares of company stock worth $878,893. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.44 during mid-day trading on Tuesday, reaching $76.69. The company had a trading volume of 1,361,050 shares, compared to its average volume of 10,344,825. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The stock has a market capitalization of $86.87 billion, a PE ratio of 21.13, a price-to-earnings-growth ratio of 1.70 and a beta of 0.94. The stock’s 50 day moving average is $79.66 and its 200-day moving average is $87.95.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period last year, the company posted $0.74 earnings per share. On average, sell-side analysts anticipate that Starbucks Co. will post 3.59 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. TD Cowen reaffirmed a “hold” rating and issued a $85.00 price target on shares of Starbucks in a report on Thursday, June 13th. Citigroup dropped their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Piper Sandler dropped their price target on Starbucks from $88.00 to $85.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Evercore ISI dropped their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, Morgan Stanley dropped their price target on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $94.54.

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.