Marcum Wealth LLC Sells 3,561 Shares of Starbucks Co. (NASDAQ:SBUX)

Marcum Wealth LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 30.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,999 shares of the coffee company’s stock after selling 3,561 shares during the quarter. Marcum Wealth LLC’s holdings in Starbucks were worth $611,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Guardian Wealth Management Inc. bought a new stake in shares of Starbucks in the fourth quarter valued at approximately $25,000. Bromfield Sneider Wealth Advisors bought a new position in Starbucks in the first quarter worth $25,000. Burleson & Company LLC lifted its position in Starbucks by 2,660.0% in the first quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock worth $25,000 after purchasing an additional 266 shares during the period. Delos Wealth Advisors LLC bought a new position in Starbucks in the fourth quarter worth $28,000. Finally, Herold Advisors Inc. bought a new position in Starbucks in the first quarter worth $29,000. Institutional investors own 67.97% of the company’s stock.

Insider Activity

In other news, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $93.00, for a total transaction of $373,860.00. Following the transaction, the executive vice president now owns 36,337 shares in the company, valued at approximately $3,379,341. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mellody L. Hobson bought 54,750 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 433,254 shares in the company, valued at $40,110,655.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 value of $373,860.00. Following the completion of the sale, 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.

Wall Street Analyst Weigh In

Several research analysts recently commented on SBUX shares. Sanford C. Bernstein started coverage on Starbucks in a research report on Wednesday, September 7th. They issued a “market perform” rating and a $94.00 target price for the company. Citigroup raised their target price on Starbucks from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 7th. Deutsche Bank Aktiengesellschaft raised their target price on Starbucks from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday, September 15th. Cowen increased their price objective on Starbucks from $94.00 to $104.00 and gave the stock an “outperform” rating in a research note on Thursday, August 18th. Finally, UBS Group increased their price objective on Starbucks from $82.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Sixteen investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks has an average rating of “Hold” and an average target price of $104.71.

Starbucks Trading Down 4.4 %

Shares of SBUX opened at $84.70 on Friday. Starbucks Co. has a 1 year low of $68.39 and a 1 year high of $117.80. The stock has a market cap of $97.18 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 2.39 and a beta of 0.94. The stock’s 50-day moving average price is $86.02 and its two-hundred day moving average price is $81.48.

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

Starbucks Announces Dividend

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

Starbucks Company 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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