Starbucks Co. (NASDAQ:SBUX) Shares Sold by Israel Discount Bank of New York

Israel Discount Bank of New York lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,400 shares of the coffee company’s stock after selling 200 shares during the period. Israel Discount Bank of New York’s holdings in Starbucks were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Naviter Wealth LLC increased its holdings in shares of Starbucks by 21.4% during the 4th quarter. Naviter Wealth LLC now owns 13,511 shares of the coffee company’s stock worth $1,297,000 after buying an additional 2,380 shares during the last quarter. Investment House LLC increased its holdings in shares of Starbucks by 3.7% during the 4th quarter. Investment House LLC now owns 8,532 shares of the coffee company’s stock worth $819,000 after buying an additional 307 shares during the last quarter. Choreo LLC increased its holdings in shares of Starbucks by 24.7% during the 4th quarter. Choreo LLC now owns 29,236 shares of the coffee company’s stock worth $2,807,000 after buying an additional 5,797 shares during the last quarter. McAdam LLC increased its holdings in shares of Starbucks by 3.3% during the 4th quarter. McAdam LLC now owns 3,826 shares of the coffee company’s stock worth $367,000 after buying an additional 124 shares during the last quarter. Finally, Mather Group LLC. increased its holdings in shares of Starbucks by 10.0% during the 4th quarter. Mather Group LLC. now owns 18,413 shares of the coffee company’s stock worth $1,768,000 after buying an additional 1,669 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of several research reports. BTIG Research dropped their target price on shares of Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a report on Wednesday, January 31st. Wedbush dropped their target price on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a report on Friday. Jefferies Financial Group dropped their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a report on Tuesday, April 16th. Citigroup dropped their target price on shares of Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Finally, TD Cowen reiterated a “hold” rating and issued a $100.00 target price on shares of Starbucks in a report on Thursday, April 11th. Fourteen equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $106.55.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 7,250 shares of company stock worth $651,738. 1.98% of the stock is owned by company insiders.

Starbucks Trading Down 0.2 %

NASDAQ:SBUX traded down $0.15 during midday trading on Monday, hitting $88.10. 5,900,786 shares of the company were exchanged, compared to its average volume of 8,345,006. The company has a fifty day simple moving average of $90.36 and a 200 day simple moving average of $94.30. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48. The company has a market capitalization of $99.75 billion, a PE ratio of 23.55, a price-to-earnings-growth ratio of 1.48 and a beta of 0.98.

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

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.59%. Starbucks’s dividend payout ratio is presently 60.96%.

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.