Arcadia Investment Management Corp MI Reduces Stock Position in Starbucks Co. (NASDAQ:SBUX)

Arcadia Investment Management Corp MI lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 0.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 135,838 shares of the coffee company’s stock after selling 1,022 shares during the period. Starbucks comprises 1.8% of Arcadia Investment Management Corp MI’s holdings, making the stock its 21st largest position. Arcadia Investment Management Corp MI’s holdings in Starbucks were worth $10,575,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Vima LLC purchased a new position in shares of Starbucks during the 4th quarter worth $26,000. Scarborough Advisors LLC purchased a new position in shares of Starbucks during the 4th quarter valued at $26,000. New Millennium Group LLC purchased a new position in shares of Starbucks during the 2nd quarter valued at $26,000. Stephens Consulting LLC lifted its stake in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares in the last quarter. Finally, DSM Capital Partners LLC purchased a new position in shares of Starbucks during the 4th quarter valued at $27,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,790 shares of company stock worth $865,514. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on SBUX shares. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. BMO Capital Markets reduced their price target on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Wedbush reiterated a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Finally, Bank of America lifted their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a report on Monday, June 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $99.42.

Starbucks Trading Down 0.5 %

Shares of SBUX traded down $0.49 during mid-day trading on Friday, hitting $91.07. The company’s stock had a trading volume of 760,490 shares, compared to its average volume of 11,917,551. The company’s 50-day moving average is $82.14 and its 200-day moving average is $83.96. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $103.15 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.26 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.00 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.57 per share. The ex-dividend date was Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.50%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

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.