Northcape Wealth Management LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Northcape Wealth Management LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,593 shares of the coffee company’s stock after selling 150 shares during the period. Northcape Wealth Management LLC’s holdings in Starbucks were worth $280,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. raised its holdings in shares of Starbucks by 22.7% in the 4th quarter. Federated Hermes Inc. now owns 67,595 shares of the coffee company’s stock valued at $6,490,000 after buying an additional 12,495 shares during the period. GUNN & Co INVESTMENT MANAGEMENT INC. grew its stake in shares of Starbucks by 1,299.8% in the fourth quarter. GUNN & Co INVESTMENT MANAGEMENT INC. now owns 466,506 shares of the coffee company’s stock worth $44,789,000 after acquiring an additional 433,179 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of Starbucks by 9.0% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,400 shares of the coffee company’s stock worth $230,000 after acquiring an additional 199 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Starbucks by 3.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 4,673 shares of the coffee company’s stock valued at $449,000 after purchasing an additional 177 shares during the period. Finally, Atria Wealth Solutions Inc. grew its position in shares of Starbucks by 0.7% during the fourth quarter. Atria Wealth Solutions Inc. now owns 125,203 shares of the coffee company’s stock worth $12,021,000 after buying an additional 816 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.7 %

Shares of Starbucks stock traded up $1.59 during midday trading on Friday, hitting $94.02. The company’s stock had a trading volume of 11,483,711 shares, compared to its average volume of 12,025,455. The firm has a market capitalization of $106.50 billion, a P/E ratio of 25.90, a PEG ratio of 2.28 and a beta of 0.94. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The stock has a 50-day simple moving average of $79.51 and a 200-day simple moving average of $83.90.

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

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.43%. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Analysts Set New Price Targets

SBUX has been the topic of a number of recent analyst reports. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. HSBC reduced their target price on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Finally, Jefferies Financial Group lowered their target price on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $99.21.

Insider Activity at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $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 valued at $865,514. 1.98% of the stock is owned by insiders.

About Starbucks

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.