Caliber Wealth Management LLC Sells 2,243 Shares of Starbucks Co. (NASDAQ:SBUX)

Caliber Wealth Management LLC decreased its position in Starbucks Co. (NASDAQ:SBUXGet Rating) by 13.2% during the second quarter, HoldingsChannel reports. The firm owned 14,707 shares of the coffee company’s stock after selling 2,243 shares during the quarter. Caliber Wealth Management LLC’s holdings in Starbucks were worth $1,123,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of SBUX. Guardian Wealth Management Inc. bought a new stake in Starbucks during the fourth quarter valued at about $25,000. Bromfield Sneider Wealth Advisors acquired a new position in shares of Starbucks during the 1st quarter worth about $25,000. Burleson & Company LLC boosted its stake in Starbucks by 2,660.0% during the 1st quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 266 shares during the period. Delos Wealth Advisors LLC acquired a new stake in Starbucks in the 4th quarter valued at approximately $28,000. Finally, Herold Advisors Inc. bought a new position in Starbucks in the 1st quarter worth approximately $29,000. 67.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on SBUX. Wedbush raised their price objective on shares of Starbucks from $86.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Starbucks from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday. Cowen lifted their target price on Starbucks from $94.00 to $104.00 in a research report on Thursday, August 18th. Fubon Bank upgraded Starbucks from a “neutral” rating to a “buy” rating and set a $103.00 price target on the stock in a research note on Wednesday, September 14th. Finally, Morgan Stanley lifted their price target on shares of Starbucks from $88.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday. Fifteen analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $104.71.

Starbucks Price Performance

NASDAQ:SBUX opened at $90.86 on Monday. Starbucks Co. has a 1-year low of $68.39 and a 1-year high of $117.80. The business has a 50 day moving average of $85.13 and a 200 day moving average of $81.35. The company has a market capitalization of $104.25 billion, a price-to-earnings ratio of 25.72, a PEG ratio of 2.46 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 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter in the previous year, the company posted $1.01 earnings per share. As a group, sell-side analysts anticipate that Starbucks Co. will post 2.88 EPS for the current year.

Starbucks Announces Dividend

The company also recently disclosed 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. This represents a $1.96 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is 55.21%.

Starbucks Company Profile

(Get Rating)

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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