Cooper Haims Advisors LLC Cuts Position in Starbucks Co. (NASDAQ:SBUX)

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Cooper Haims Advisors LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 43.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,694 shares of the coffee company’s stock after selling 2,093 shares during the quarter. Cooper Haims Advisors LLC’s holdings in Starbucks were worth $226,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Starbucks by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,100,583 shares of the coffee company’s stock worth $264,063,000 after purchasing an additional 20,719 shares in the last quarter. Covington Capital Management increased its holdings in Starbucks by 5.7% in the 4th quarter. Covington Capital Management now owns 83,703 shares of the coffee company’s stock valued at $5,390,000 after buying an additional 4,542 shares during the period. M Holdings Securities Inc. bought a new position in Starbucks in the 4th quarter valued at about $201,000. Colony Group LLC increased its holdings in Starbucks by 0.8% in the 4th quarter. Colony Group LLC now owns 37,513 shares of the coffee company’s stock valued at $2,416,000 after buying an additional 302 shares during the period. Finally, Capital Financial Planning LLC bought a new position in Starbucks in the 4th quarter valued at about $70,000. Institutional investors and hedge funds own 71.86% of the company’s stock.

Several equities analysts have commented on the stock. Bank of America set a $85.00 target price on shares of Starbucks and gave the company a “buy” rating in a report on Friday, April 26th. Zacks Investment Research raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Tuesday, June 18th. Robert W. Baird lowered shares of Starbucks from an “outperform” rating to a “neutral” rating in a report on Monday, July 29th. Evercore ISI assumed coverage on shares of Starbucks in a report on Tuesday, June 11th. They issued an “in-line” rating and a $82.00 target price on the stock. Finally, Wedbush raised their target price on shares of Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Starbucks presently has a consensus rating of “Buy” and a consensus target price of $89.53.

In other Starbucks news, CAO Jill Walker sold 6,492 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total transaction of $621,284.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John Culver sold 63,937 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $78.04, for a total transaction of $4,989,643.48. The disclosure for this sale can be found here. Insiders have sold a total of 133,738 shares of company stock worth $11,291,327 over the last three months. Insiders own 3.98% of the company’s stock.

Shares of Starbucks stock opened at $95.34 on Wednesday. The company has a market cap of $114.33 billion, a price-to-earnings ratio of 39.40, a PEG ratio of 2.63 and a beta of 0.55. The firm’s 50 day moving average is $89.45. Starbucks Co. has a 1 year low of $51.19 and a 1 year high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.06. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The company had revenue of $6.82 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same period in the previous year, the firm posted $0.62 EPS. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, analysts expect that Starbucks Co. will post 2.82 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Thursday, August 8th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Wednesday, August 7th. Starbucks’s payout ratio is 59.50%.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading: How to calculate the intrinsic value of a stock

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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