Premier Path Wealth Partners LLC Sells 1,734 Shares of Starbucks Co. (NASDAQ:SBUX)

Premier Path Wealth Partners LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 31.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 3,797 shares of the coffee company’s stock after selling 1,734 shares during the period. Premier Path Wealth Partners LLC’s holdings in Starbucks were worth $296,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in SBUX. Vanguard Group Inc. lifted its position in Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares in the last quarter. Norges Bank bought a new stake in shares of Starbucks in the fourth quarter valued at about $1,240,652,000. Fisher Asset Management LLC lifted its holdings in shares of Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Starbucks by 0.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after buying an additional 27,496 shares during the period. Finally, Flossbach Von Storch AG grew its holdings in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SBUX shares. BTIG Research reduced their price target on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Jefferies Financial Group cut their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research report on Wednesday, July 31st. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Starbucks Stock Up 1.7 %

Shares of NASDAQ:SBUX traded up $1.59 during midday trading on Friday, hitting $94.02. 11,478,008 shares of the stock traded hands, compared to its average volume of 12,025,455. The stock has a market capitalization of $106.50 billion, a PE ratio of 25.90, a P/E/G ratio of 2.28 and a beta of 0.94. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The business’s 50 day moving average is $79.51 and its two-hundred day moving average is $83.99.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. As a group, sell-side analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.43%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 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.