Israel Discount Bank of New York Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Israel Discount Bank of New York lowered its position in Starbucks Co. (NASDAQ:SBUX) by 7.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 2,400 shares of the coffee company’s stock after selling 200 shares during the period. Israel Discount Bank of New York’s holdings in Starbucks were worth $230,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SBUX. Avestar Capital LLC raised its position in shares of Starbucks by 14.2% in the third quarter. Avestar Capital LLC now owns 4,638 shares of the coffee company’s stock worth $423,000 after acquiring an additional 577 shares during the period. Brookstone Capital Management lifted its holdings in Starbucks by 8.4% during the 3rd quarter. Brookstone Capital Management now owns 18,541 shares of the coffee company’s stock worth $1,751,000 after buying an additional 1,443 shares in the last quarter. Capital Planning LLC lifted its holdings in Starbucks by 14.3% during the 3rd quarter. Capital Planning LLC now owns 7,849 shares of the coffee company’s stock worth $716,000 after buying an additional 980 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Starbucks by 0.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 590,751 shares of the coffee company’s stock valued at $53,918,000 after purchasing an additional 2,514 shares in the last quarter. Finally, FAS Wealth Partners Inc. grew its position in shares of Starbucks by 4.6% in the 3rd quarter. FAS Wealth Partners Inc. now owns 22,083 shares of the coffee company’s stock valued at $2,015,000 after buying an additional 976 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have sold 7,250 shares of company stock worth $651,738 over the last ninety days. 1.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Starbucks in a report on Monday, April 1st. JPMorgan Chase & Co. reduced their target price on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. Barclays dropped their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a report on Wednesday, January 31st. Jefferies Financial Group decreased their target price on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday, April 16th. Finally, Stifel Nicolaus reduced their price objective on shares of Starbucks from $102.00 to $90.00 and set a “hold” rating for the company in a research note on Thursday, April 11th. Fourteen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $106.55.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded down $0.15 during trading on Monday, hitting $88.10. The company’s stock had a trading volume of 5,900,786 shares, compared to its average volume of 8,345,006. The business has a 50 day moving average price of $90.36 and a two-hundred day moving average price of $94.30. The company has a market capitalization of $99.75 billion, a PE ratio of 23.55, a P/E/G ratio of 1.48 and a beta of 0.98. Starbucks Co. has a fifty-two week low of $84.29 and a fifty-two week high of $115.48.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The company had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The business’s revenue was up 8.2% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.59%. Starbucks’s payout ratio is currently 60.96%.

About Starbucks

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