YHB Investment Advisors Inc. Sells 2,302 Shares of Starbucks Co. (NASDAQ:SBUX)

YHB Investment Advisors Inc. lessened its position in Starbucks Co. (NASDAQ:SBUXGet Rating) by 16.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,661 shares of the coffee company’s stock after selling 2,302 shares during the period. YHB Investment Advisors Inc.’s holdings in Starbucks were worth $891,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SBUX. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of Starbucks by 2.0% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 55,451 shares of the coffee company’s stock worth $6,487,000 after purchasing an additional 1,072 shares during the period. Mutual Advisors LLC lifted its position in shares of Starbucks by 3.2% in the 4th quarter. Mutual Advisors LLC now owns 20,993 shares of the coffee company’s stock worth $2,456,000 after purchasing an additional 652 shares during the period. Clearstead Advisors LLC lifted its position in shares of Starbucks by 19.4% in the 4th quarter. Clearstead Advisors LLC now owns 11,246 shares of the coffee company’s stock worth $1,315,000 after purchasing an additional 1,827 shares during the period. Summit Global Investments lifted its position in shares of Starbucks by 65.2% in the 4th quarter. Summit Global Investments now owns 6,233 shares of the coffee company’s stock worth $729,000 after purchasing an additional 2,459 shares during the period. Finally, King Street Capital Management L.P. purchased a new stake in shares of Starbucks in the 4th quarter worth about $1,743,000. Institutional investors own 67.97% of the company’s stock.

Starbucks Stock Down 4.4 %

Shares of SBUX stock opened at $84.70 on Friday. The company has a 50 day moving average price of $86.02 and a 200-day moving average price of $81.48. Starbucks Co. has a 52 week low of $68.39 and a 52 week high of $117.80. The firm has a market capitalization of $97.18 billion, a PE ratio of 23.86, a P/E/G ratio of 2.39 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.22 billion. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the previous year, the business posted $1.01 earnings per share. Analysts anticipate that Starbucks Co. will post 2.88 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were given a dividend of $0.49 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.96 annualized dividend and a yield of 2.31%. Starbucks’s dividend payout ratio (DPR) is 55.21%.

Insider Activity at Starbucks

In other Starbucks news, Director Mellody L. Hobson bought 54,750 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was bought at an average cost of $92.58 per share, for a total transaction of $5,068,755.00. Following the completion of the transaction, the director now owns 433,254 shares of the company’s stock, valued at approximately $40,110,655.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mellody L. Hobson purchased 54,750 shares of the stock in a transaction on Thursday, September 15th. The shares were acquired at an average price of $92.58 per share, with a total value of $5,068,755.00. Following the completion of the acquisition, the director now directly owns 433,254 shares of the company’s stock, valued at $40,110,655.32. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the transaction, the executive vice president now directly owns 36,337 shares in the company, valued at approximately $3,379,341. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wedbush lifted their price target on shares of Starbucks from $86.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, September 14th. Stephens assumed coverage on shares of Starbucks in a research report on Thursday. They set an “equal weight” rating for the company. Barclays lifted their price target on shares of Starbucks from $96.00 to $100.00 and gave the company an “overweight” rating in a research report on Wednesday, September 14th. Piper Sandler lifted their price target on shares of Starbucks from $84.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, September 16th. Finally, UBS Group lifted their price target on shares of Starbucks from $82.00 to $87.00 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Sixteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Hold” and an average price target of $104.71.

Starbucks Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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