Lehman & Derafelo Financial Resources LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,877 shares of the coffee company’s stock after selling 413 shares during the period. Lehman & Derafelo Financial Resources LLC’s holdings in Starbucks were worth $285,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Certified Advisory Corp increased its holdings in Starbucks by 32.5% in the 1st quarter. Certified Advisory Corp now owns 526 shares of the coffee company’s stock valued at $35,000 after purchasing an additional 129 shares during the last quarter. First Interstate Bank grew its stake in shares of Starbucks by 0.3% in the first quarter. First Interstate Bank now owns 41,287 shares of the coffee company’s stock worth $2,714,000 after acquiring an additional 138 shares in the last quarter. SFE Investment Counsel grew its stake in shares of Starbucks by 2.0% in the first quarter. SFE Investment Counsel now owns 7,061 shares of the coffee company’s stock worth $464,000 after acquiring an additional 140 shares in the last quarter. Aries Wealth Management grew its stake in shares of Starbucks by 2.6% in the second quarter. Aries Wealth Management now owns 5,601 shares of the coffee company’s stock worth $412,000 after acquiring an additional 140 shares in the last quarter. Finally, Exeter Financial LLC grew its stake in shares of Starbucks by 1.0% in the first quarter. Exeter Financial LLC now owns 13,849 shares of the coffee company’s stock worth $910,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 68.51% of the company’s stock.

NASDAQ SBUX traded down $0.11 during trading on Friday, reaching $76.53. The company’s stock had a trading volume of 7,424,977 shares, compared to its average volume of 8,243,539. The firm has a market cap of $89.59 billion, a price-to-earnings ratio of 68.95, a P/E/G ratio of 5.87 and a beta of 0.79. Starbucks Co. has a twelve month low of $50.02 and a twelve month high of $98.14. The business’s fifty day moving average price is $74.75 and its 200-day moving average price is $77.29.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.15. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The business had revenue of $4.22 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the business posted $0.78 earnings per share. The business’s revenue was down 38.1% compared to the same quarter last year. On average, equities analysts predict that Starbucks Co. will post 0.95 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be paid a dividend of $0.41 per share. The ex-dividend date is Thursday, August 6th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.14%. Starbucks’s dividend payout ratio (DPR) is 57.95%.

In other news, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $77.66, for a total transaction of $330,210.32. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Jill Walker sold 2,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $82.64, for a total transaction of $165,280.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,504 shares of company stock worth $810,521. Company insiders own 0.41% of the company’s stock.

SBUX has been the subject of several research reports. Morgan Stanley boosted their price target on shares of Starbucks from $76.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Wedbush boosted their price target on shares of Starbucks from $75.00 to $81.00 and gave the stock a “neutral” rating in a research note on Wednesday. They noted that the move was a valuation call. Stephens lifted their price objective on shares of Starbucks from $72.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Royal Bank of Canada decreased their price objective on shares of Starbucks from $86.00 to $85.00 and set an “outperform” rating for the company in a research report on Thursday, June 11th. Finally, BidaskClub raised shares of Starbucks from a “strong sell” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Starbucks presently has a consensus rating of “Hold” and an average price target of $84.04.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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