Wellington Shields Capital Management LLC Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Wellington Shields Capital Management LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 12.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,255 shares of the coffee company’s stock after selling 475 shares during the period. Wellington Shields Capital Management LLC’s holdings in Starbucks were worth $297,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new position in Starbucks in the 4th quarter worth approximately $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 acquiring an additional 2,684,470 shares in the last quarter. Van ECK Associates Corp increased its stake in Starbucks by 2,624.3% in the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after acquiring an additional 2,071,378 shares during the last quarter. Bank of Nova Scotia raised its position in Starbucks by 342.7% during 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 purchasing an additional 1,672,656 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Starbucks by 432.5% during the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after purchasing an additional 1,656,591 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SBUX shares. Wedbush reissued a “neutral” rating and set a $81.00 price target on shares of Starbucks in a research note on Friday, June 28th. Jefferies Financial Group lowered their price target on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. TD Cowen reaffirmed a “hold” rating and set a $85.00 price objective on shares of Starbucks in a research note on Thursday, June 13th. Guggenheim lowered their target price on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Finally, Citigroup reduced their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $94.46.

Insider Activity

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

Starbucks Stock Up 0.1 %

Shares of NASDAQ:SBUX traded up $0.05 during trading on Wednesday, hitting $72.80. The stock had a trading volume of 5,116,268 shares, compared to its average volume of 10,317,759. The company has a market capitalization of $82.46 billion, a PE ratio of 20.06, a PEG ratio of 1.63 and a beta of 0.94. The firm’s fifty day moving average is $77.91 and its 200 day moving average is $86.93. Starbucks Co. has a 12 month low of $71.80 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion for the quarter, compared to analysts’ expectations of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.74 EPS. Equities research analysts expect that Starbucks Co. will post 3.58 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed 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 3.13%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Starbucks Profile

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.