Lehman & Derafelo Financial Resources LLC Reduces Stake in Starbucks Co. (NASDAQ:SBUX)
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.
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 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.
Recommended Story: Economic Reports
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.