Conning Inc. Has $30.37 Million Position in Starbucks Co. (NASDAQ:SBUX)

Conning Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 8.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 317,008 shares of the coffee company's stock after selling 28,496 shares during the period. Conning Inc.'s holdings in Starbucks were worth $30,371,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of SBUX. BCK Partners Inc. purchased a new position in shares of Starbucks during the 1st quarter worth approximately $2,640,000. American Century Companies Inc. increased its stake in Starbucks by 7.3% in the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company's stock valued at $2,514,000 after purchasing an additional 1,872 shares in the last quarter. Roundview Capital LLC increased its stake in Starbucks by 37.5% in the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company's stock valued at $651,000 after purchasing an additional 1,952 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Starbucks in the 1st quarter valued at approximately $198,000. Finally, Mather Group LLC. increased its stake in Starbucks by 77.5% in the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company's stock valued at $629,000 after purchasing an additional 3,017 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Starbucks stock traded down $0.98 during midday trading on Friday, reaching $84.92. The stock had a trading volume of 8,594,849 shares, compared to its average volume of 6,860,191. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48. The stock has a market capitalization of $96.15 billion, a PE ratio of 22.71, a price-to-earnings-growth ratio of 1.36 and a beta of 0.97. The stock's 50-day simple moving average is $91.86 and its 200 day simple moving average is $94.61.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts' consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the business posted $0.75 EPS. Starbucks's revenue was up 8.2% compared to the same quarter last year. Equities analysts predict that Starbucks Co. will post 4.05 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks's dividend payout ratio is presently 60.96%.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the business's stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have sold a total of 4,000 shares of company stock worth $375,665 over the last quarter. 1.98% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research analyst reports. Morgan Stanley dropped their price objective on Starbucks from $120.00 to $115.00 and set an "overweight" rating for the company in a research note on Friday. Stifel Nicolaus lowered their target price on Starbucks from $102.00 to $90.00 and set a "hold" rating on the stock in a report on Thursday. Citigroup lowered their target price on Starbucks from $102.00 to $95.00 and set a "neutral" rating on the stock in a report on Friday. Royal Bank of Canada reiterated a "sector perform" rating and set a $102.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Finally, HSBC initiated coverage on Starbucks in a report on Wednesday, December 20th. They set a "hold" rating and a $107.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, Starbucks currently has an average rating of "Hold" and an average target price of $107.71.

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.