Starbucks Co. (NASDAQ:SBUX) Shares Sold by CCLA Investment Management

CCLA Investment Management cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 99.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,176 shares of the coffee company's stock after selling 1,082,882 shares during the period. Starbucks comprises about 1.9% of CCLA Investment Management's investment portfolio, making the stock its 24th biggest holding. CCLA Investment Management's holdings in Starbucks were worth $112,859,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Riggs Asset Managment Co. Inc. grew its stake in Starbucks by 1,578.9% in the third quarter. Riggs Asset Managment Co. Inc. now owns 319 shares of the coffee company's stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Cypress Capital Management LLC WY grew its stake in Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company's stock worth $31,000 after purchasing an additional 185 shares in the last quarter. Atticus Wealth Management LLC grew its stake in Starbucks by 153.8% in the fourth quarter. Atticus Wealth Management LLC now owns 330 shares of the coffee company's stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Evolution Advisers Inc. acquired a new position in Starbucks in the fourth quarter worth about $36,000. Finally, Financial Connections Group Inc. acquired a new position in Starbucks in the fourth quarter worth about $38,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Down 0.7 %

Starbucks stock traded down $0.55 during mid-day trading on Tuesday, hitting $75.63. The company's stock had a trading volume of 10,936,753 shares, compared to its average volume of 10,060,979. The stock has a market capitalization of $85.67 billion, a P/E ratio of 20.85, a P/E/G ratio of 1.64 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The stock's fifty day moving average price is $86.59 and its two-hundred day moving average price is $93.01.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (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 business had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same quarter last year, the firm posted $0.74 EPS. The company's quarterly revenue was down 1.8% compared to the same quarter last year. Equities analysts expect that Starbucks Co. will post 3.63 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 3.01%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks's payout ratio is 62.81%.

Insiders Place Their Bets

In other news, insider Michael Aaron Conway sold 3,250 shares of the business's stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 7,250 shares of company stock worth $651,738. Corporate insiders own 1.98% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wedbush cut 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. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a "buy" rating to a "hold" rating and cut their target price for the stock from $108.00 to $89.00 in a report on Wednesday, May 1st. Evercore ISI cut their target price on shares of Starbucks from $120.00 to $92.00 and set an "outperform" rating on the stock in a report on Wednesday, May 1st. 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 report on Wednesday, May 1st. Finally, Citigroup cut their target price on shares of Starbucks from $95.00 to $85.00 and set a "neutral" rating on the stock in a report on Wednesday, May 1st. Seventeen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $96.43.

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.

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