Starbucks Co. (NASDAQ:SBUX) Shares Sold by Northern Trust Corp

Northern Trust Corp lowered its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,695,163 shares of the coffee company’s stock after selling 522,589 shares during the quarter. Northern Trust Corp’s holdings in Starbucks were worth $1,410,883,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Pinnacle West Asset Management Inc. grew its holdings in Starbucks by 4.9% during the 4th quarter. Pinnacle West Asset Management Inc. now owns 6,960 shares of the coffee company’s stock worth $668,000 after acquiring an additional 325 shares in the last quarter. Exencial Wealth Advisors LLC lifted its position in shares of Starbucks by 18.9% during the fourth quarter. Exencial Wealth Advisors LLC now owns 6,387 shares of the coffee company’s stock worth $613,000 after purchasing an additional 1,014 shares during the last quarter. American International Group Inc. grew its stake in Starbucks by 0.4% in the fourth quarter. American International Group Inc. now owns 377,274 shares of the coffee company’s stock worth $36,222,000 after purchasing an additional 1,624 shares in the last quarter. Cibc World Markets Corp increased its holdings in Starbucks by 33.7% in the fourth quarter. Cibc World Markets Corp now owns 451,458 shares of the coffee company’s stock valued at $43,344,000 after buying an additional 113,823 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado raised its stake in Starbucks by 8,513.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 1,210,285 shares of the coffee company’s stock valued at $116,199,000 after buying an additional 1,196,234 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 1.0 %

Starbucks stock traded up $0.78 during trading hours on Friday, hitting $82.25. 1,544,326 shares of the company traded hands, compared to its average volume of 10,231,233. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The firm has a market cap of $93.16 billion, a P/E ratio of 22.44, a P/E/G ratio of 1.77 and a beta of 0.96. The firm’s 50-day simple moving average is $82.05 and its two-hundred day simple moving average is $90.33.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the business earned $0.74 EPS. Starbucks’s revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Friday, May 17th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Thursday, May 16th. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The disclosure for this sale can be found here. Insiders sold a total of 7,750 shares of company stock worth $642,050 over the last 90 days. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research reports. William Blair lowered Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Evercore ISI decreased their price objective on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a report on Wednesday, May 1st. Wedbush dropped their target price on shares of Starbucks from $95.00 to $92.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. BTIG Research decreased their price target on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Citigroup dropped their price objective on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Starbucks has an average rating of “Hold” and an average target price of $96.43.

Check Out Our Latest Analysis on Starbucks

Starbucks Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXFree Report).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.