Parsons Capital Management Inc. RI trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,595 shares of the coffee company’s stock after selling 424 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Starbucks were worth $1,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Hoover Financial Advisors Inc. acquired a new position in shares of Starbucks in the 4th quarter valued at about $26,000. Oxler Private Wealth LLC bought a new stake in Starbucks in the 4th quarter valued at about $32,000. Clark Financial Advisors bought a new stake in Starbucks in the 4th quarter valued at about $33,000. Phoenix Wealth Advisors bought a new stake in Starbucks in the 4th quarter valued at about $39,000. Finally, Brand Asset Management Group Inc. increased its position in Starbucks by 53.3% in the 1st quarter. Brand Asset Management Group Inc. now owns 377 shares of the coffee company’s stock valued at $41,000 after buying an additional 131 shares in the last quarter. 67.27% of the stock is currently owned by institutional investors.

In related news, EVP Rachel A. Gonzalez sold 82,894 shares of the stock in a transaction on Monday, March 29th. The stock was sold at an average price of $109.50, for a total value of $9,076,893.00. Following the transaction, the executive vice president now owns 78,905 shares of the company’s stock, valued at $8,640,097.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kevin R. Johnson sold 170,000 shares of the firm’s stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $111.07, for a total value of $18,881,900.00. Following the transaction, the chief executive officer now directly owns 515,934 shares in the company, valued at $57,304,789.38. The disclosure for this sale can be found here. In the last three months, insiders sold 406,184 shares of company stock worth $44,685,798. 0.41% of the stock is owned by insiders.

A number of analysts recently commented on SBUX shares. JPMorgan Chase & Co. boosted their target price on Starbucks from $97.00 to $104.00 and gave the company a “neutral” rating in a research report on Monday, April 19th. Cowen boosted their target price on Starbucks from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, April 28th. Atlantic Securities assumed coverage on Starbucks in a report on Tuesday, April 13th. They set an “overweight” rating and a $128.00 price objective for the company. The Goldman Sachs Group assumed coverage on Starbucks in a report on Tuesday, January 19th. They set a “buy” rating and a $115.00 price objective for the company. Finally, MKM Partners boosted their price objective on Starbucks from $105.00 to $117.00 in a report on Thursday, April 22nd. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Starbucks presently has an average rating of “Buy” and an average target price of $120.80.

Shares of SBUX stock opened at $115.72 on Tuesday. Starbucks Co. has a 52-week low of $70.65 and a 52-week high of $118.98. The company has a market capitalization of $136.24 billion, a PE ratio of 150.29, a price-to-earnings-growth ratio of 2.67 and a beta of 0.82. The business’s fifty day moving average is $112.30 and its 200 day moving average is $103.39.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Monday, April 26th. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.10. Starbucks had a negative return on equity of 18.07% and a net margin of 3.95%. The company had revenue of $6.67 billion for the quarter, compared to the consensus estimate of $6.75 billion. During the same quarter last year, the business posted $0.32 earnings per share. The firm’s revenue was up 11.2% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 2.81 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Investors of record on Thursday, May 13th will be paid a $0.45 dividend. The ex-dividend date is Wednesday, May 12th. This represents a $1.80 dividend on an annualized basis and a yield of 1.56%. Starbucks’s dividend payout ratio is presently 153.85%.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: Americas, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; 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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