Linscomb Wealth Inc. Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Linscomb Wealth Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 7.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,464 shares of the coffee company’s stock after selling 893 shares during the quarter. Linscomb Wealth Inc.’s holdings in Starbucks were worth $1,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares during the period. Norges Bank acquired a new position in Starbucks during the fourth quarter worth $1,240,652,000. Fisher Asset Management LLC boosted its position in Starbucks by 2.4% during the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock worth $1,091,378,000 after purchasing an additional 268,030 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after purchasing an additional 27,496 shares during the last quarter. Finally, Flossbach Von Storch AG increased its position in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total transaction of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 directly owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. In the last three months, insiders sold 7,250 shares of company stock worth $579,375. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SBUX. DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 price objective on the stock. in a research report on Friday, May 3rd. Bank of America increased 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. Evercore ISI downgraded Starbucks from an “outperform” rating to an “inline” rating and cut their price objective for the stock from $92.00 to $80.00 in a research report on Tuesday, July 16th. HSBC lowered their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a report on Friday, May 3rd. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.71.

Starbucks Price Performance

SBUX stock traded up $0.73 during trading on Friday, reaching $74.05. 12,387,111 shares of the stock traded hands, compared to its average volume of 11,764,148. The firm has a market capitalization of $83.88 billion, a PE ratio of 20.40, a P/E/G ratio of 1.66 and a beta of 0.94. The business’s 50 day moving average price is $77.88 and its 200-day moving average price is $85.19. 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, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. During the same quarter in the previous year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.57 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 3.08%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Starbucks 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.