Toronto Dominion Bank Sells 389,785 Shares of Starbucks Co. (NASDAQ:SBUX)

Toronto Dominion Bank decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 35.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 705,706 shares of the coffee company’s stock after selling 389,785 shares during the period. Toronto Dominion Bank owned about 0.06% of Starbucks worth $64,494,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vima LLC bought a new position in shares of Starbucks during the fourth quarter valued at $26,000. Scarborough Advisors LLC bought a new position in shares of Starbucks during the fourth quarter valued at $26,000. DSM Capital Partners LLC bought a new position in shares of Starbucks during the fourth quarter valued at $27,000. Fairman Group LLC bought a new position in shares of Starbucks during the fourth quarter valued at $30,000. Finally, Cypress Capital Management LLC WY raised its stake in shares of Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock traded up $0.73 during mid-day trading on Friday, hitting $74.05. The company had a trading volume of 12,384,122 shares, compared to its average volume of 10,694,470. The firm has a market cap of $83.88 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.69 and a beta of 0.94. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock’s fifty day moving average price is $77.88 and its two-hundred day moving average price is $85.24.

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). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the prior year, the firm posted $0.74 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 3.57 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock valued at $579,375 over the last quarter. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Wedbush dropped their price target on shares of Starbucks from $81.00 to $77.00 and set a “neutral” rating for the company in a research note on Friday, July 19th. Bank of America lifted their target price on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Morgan Stanley lowered their target price on shares of Starbucks from $104.00 to $98.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Evercore ISI cut shares of Starbucks from an “outperform” rating to an “inline” rating and reduced their price target for the stock from $92.00 to $80.00 in a report on Tuesday, July 16th. Finally, Citigroup reduced their price target on shares of Starbucks from $85.00 to $80.00 and set a “neutral” rating for the company in a report on Monday. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Hold” and a consensus price target of $91.71.

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.