MainStreet Investment Advisors LLC Trims Stake in Starbucks Co. (NASDAQ:SBUX)

MainStreet Investment Advisors LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,782 shares of the coffee company’s stock after selling 11,325 shares during the period. Starbucks accounts for approximately 1.2% of MainStreet Investment Advisors LLC’s portfolio, making the stock its 26th largest holding. MainStreet Investment Advisors LLC’s holdings in Starbucks were worth $9,481,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SBUX. Strategic Financial Concepts LLC bought a new position in shares of Starbucks in the second quarter worth approximately $4,633,000. Umpqua Bank increased its holdings in shares of Starbucks by 4.6% in the 2nd quarter. Umpqua Bank now owns 13,116 shares of the coffee company’s stock worth $1,021,000 after buying an additional 574 shares during the last quarter. Motiv8 Investments LLC raised its position in shares of Starbucks by 33.8% during the 2nd quarter. Motiv8 Investments LLC now owns 7,478 shares of the coffee company’s stock valued at $582,000 after buying an additional 1,887 shares in the last quarter. Mine & Arao Wealth Creation & Management LLC. lifted its holdings in shares of Starbucks by 6.1% during the 2nd quarter. Mine & Arao Wealth Creation & Management LLC. now owns 3,256 shares of the coffee company’s stock worth $253,000 after acquiring an additional 187 shares during the last quarter. Finally, Patron Partners LLC grew its position in Starbucks by 4.5% in the second quarter. Patron Partners LLC now owns 9,684 shares of the coffee company’s stock worth $754,000 after acquiring an additional 415 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $91.15 on Friday. The company has a market cap of $103.29 billion, a PE ratio of 25.11, a P/E/G ratio of 2.21 and a beta of 0.96. The firm’s 50 day moving average price is $82.41 and its 200-day moving average price is $83.88. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue was down .6% compared to the same quarter last year. During the same period last year, the business posted $1.00 EPS. On average, analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Announces Dividend

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

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 $6,264,320. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Friday, June 14th. The stock was 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 in the company, valued at $6,264,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated 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 directly owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock valued at $865,514 in the last 90 days. 1.98% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Bank of America lifted their price target on Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. JPMorgan Chase & Co. cut their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Finally, DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Starbucks currently 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.