Starbucks Co. (NASDAQ:SBUX) Shares Sold by Webster Bank N. A.

Webster Bank N. A. reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 57.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 927 shares of the coffee company’s stock after selling 1,275 shares during the period. Webster Bank N. A.’s holdings in Starbucks were worth $85,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank bought a new stake in Starbucks in the fourth quarter worth about $1,240,652,000. Flossbach Von Storch AG grew its position in Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after buying an additional 2,684,470 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of Starbucks by 342.7% in the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after buying an additional 1,672,656 shares in the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Starbucks by 432.5% during the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after acquiring an additional 1,656,591 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Starbucks by 44.8% during the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after acquiring an additional 1,591,206 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $77.85 on Friday. The firm has a market cap of $88.18 billion, a price-to-earnings ratio of 21.45, a P/E/G ratio of 1.70 and a beta of 0.96. The firm has a fifty day moving average price of $79.66 and a two-hundred day moving average price of $88.02. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same quarter in the previous year, the company earned $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 3.59 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SBUX. Robert W. Baird decreased their price target on Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Guggenheim decreased their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Wells Fargo & Company cut their target price on shares of Starbucks from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 1st. Evercore ISI lowered their price target on Starbucks from $120.00 to $92.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group initiated coverage on Starbucks in a research report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective for the company. Seventeen equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $94.54.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 completion of the transaction, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock worth $878,893 in the last ninety days. Insiders own 1.98% of the company’s stock.

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.