Bank of New Hampshire Sells 1,005 Shares of Starbucks Co. (NASDAQ:SBUX)

Bank of New Hampshire lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 44.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,264 shares of the coffee company’s stock after selling 1,005 shares during the quarter. Bank of New Hampshire’s holdings in Starbucks were worth $98,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vima LLC bought a new stake in shares of Starbucks in the 4th quarter valued at about $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. DSM Capital Partners LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $27,000. Fairman Group LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY grew its position in shares of Starbucks by 133.1% in the 4th quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SBUX shares. Evercore ISI downgraded shares of Starbucks from an “outperform” rating to an “inline” rating and cut their price objective for the stock from $92.00 to $80.00 in a research report on Tuesday, July 16th. Jefferies Financial Group cut their price objective on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 10th. DZ Bank downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a research report on Friday, May 3rd. Finally, Wells Fargo & Company dropped their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.88.

Starbucks Stock Performance

Shares of SBUX traded up $0.77 during trading hours on Friday, hitting $75.88. The stock had a trading volume of 15,185,688 shares, compared to its average volume of 13,858,536. The firm has a 50-day moving average price of $77.62 and a 200 day moving average price of $84.61. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market capitalization of $85.95 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.74 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business posted $1.00 EPS. As a group, analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,250 shares of company stock worth $579,375. Company insiders own 1.98% of the company’s stock.

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.