Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bank of New Hampshire

Bank of New Hampshire lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,626 shares of the coffee company’s stock after selling 193 shares during the period. Bank of New Hampshire’s holdings in Starbucks were worth $252,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SBUX. Riggs Asset Managment Co. Inc. raised its holdings in shares of Starbucks by 1,578.9% in the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company’s stock worth $29,000 after purchasing an additional 300 shares during the period. Atticus Wealth Management LLC increased its holdings in Starbucks by 153.8% during the 4th quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company’s stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Financial Connections Group Inc. purchased a new stake in Starbucks during the 4th quarter worth approximately $38,000. Tennessee Valley Asset Management Partners purchased a new stake in Starbucks during the 4th quarter worth approximately $38,000. Finally, Fortitude Family Office LLC purchased a new stake in Starbucks during the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX traded down $0.91 during trading on Thursday, reaching $87.84. 6,823,402 shares of the stock traded hands, compared to its average volume of 8,388,295. The stock has a market cap of $99.45 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The stock’s 50-day simple moving average is $90.57 and its two-hundred day simple moving average is $94.35.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The firm had revenue of $9.43 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same period last year, the business earned $0.75 earnings per share. Research analysts anticipate that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last three months. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wedbush reiterated a “neutral” rating and issued a $95.00 target price on shares of Starbucks in a research report on Wednesday, January 31st. Robert W. Baird decreased their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Stifel Nicolaus reduced their price objective on Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research report on Thursday, April 11th. Guggenheim reduced their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Finally, BMO Capital Markets reduced their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Starbucks currently has an average rating of “Hold” and an average price target of $106.68.

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.