Starbucks Co. (NASDAQ:SBUX) Stock Position Cut by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,838 shares of the coffee company’s stock after selling 1,022 shares during the quarter. Starbucks comprises 1.8% of Arcadia Investment Management Corp MI’s holdings, making the stock its 21st biggest position. Arcadia Investment Management Corp MI’s holdings in Starbucks were worth $10,575,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Graybill Wealth Management LTD. increased its holdings in shares of Starbucks by 0.3% during the 4th 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. Versant Capital Management Inc increased its stake in Starbucks by 7.9% in the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock valued at $152,000 after acquiring an additional 122 shares during the period. Astoria Portfolio Advisors LLC. increased its stake in Starbucks by 2.0% in the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after acquiring an additional 127 shares during the period. Bedel Financial Consulting Inc. increased its stake in Starbucks by 2.1% in the fourth quarter. Bedel Financial Consulting Inc. now owns 6,423 shares of the coffee company’s stock valued at $617,000 after acquiring an additional 132 shares during the period. Finally, Carolinas Wealth Consulting LLC increased its stake in Starbucks by 4.9% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 2,862 shares of the coffee company’s stock valued at $275,000 after acquiring an additional 133 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now 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 can be accessed through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated 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 sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value 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 approximately $6,264,320. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,790 shares of company stock valued at $865,514. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.5 %

NASDAQ:SBUX traded down $0.49 during mid-day trading on Friday, hitting $91.07. 760,490 shares of the company’s stock were exchanged, compared to its average volume of 11,917,551. The company has a 50 day simple moving average of $82.14 and a 200-day simple moving average of $83.96. 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 $103.15 billion, a P/E ratio of 25.22, a PEG ratio of 2.26 and a beta of 0.96.

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

Starbucks Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SBUX shares. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Bank of America boosted their price target on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Citigroup boosted their price target on shares of Starbucks from $82.00 to $98.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.42.

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.