Starbucks Co. (NASDAQ:SBUX) Stake Decreased by Calamos Advisors LLC

Calamos Advisors LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 349,398 shares of the coffee company’s stock after selling 2,948 shares during the quarter. Calamos Advisors LLC’s holdings in Starbucks were worth $33,546,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SBUX. Cerity Partners LLC grew its stake in shares of Starbucks by 481.9% in the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares in the last quarter. Metis Global Partners LLC grew its position in Starbucks by 15.4% in the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after buying an additional 7,619 shares in the last quarter. Tyche Wealth Partners LLC acquired a new position in Starbucks during the 4th quarter valued at about $794,000. Insigneo Advisory Services LLC raised its position in shares of Starbucks by 60.6% during the 3rd quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock worth $864,000 after buying an additional 3,570 shares in the last quarter. Finally, Motco raised its position in shares of Starbucks by 1.1% during the 3rd quarter. Motco now owns 74,829 shares of the coffee company’s stock worth $6,830,000 after buying an additional 811 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 1.1 %

Starbucks stock traded up $0.94 during mid-day trading on Thursday, reaching $87.15. The company had a trading volume of 11,368,190 shares, compared to its average volume of 8,410,610. The company has a 50 day moving average of $91.33 and a 200-day moving average of $94.47. The firm has a market cap of $98.67 billion, a price-to-earnings ratio of 23.05, a PEG ratio of 1.37 and a beta of 0.97. Starbucks Co. has a 52 week low of $84.29 and a 52 week high of $115.48.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate 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 period last year, the company earned $0.75 EPS. The company’s revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.62%. Starbucks’s dividend payout ratio is currently 60.96%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $102.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Gordon Haskett downgraded Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, January 16th. Citigroup decreased their target price on Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. JPMorgan Chase & Co. lowered their target price on Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, March 19th. Finally, Stephens reissued an “equal weight” rating and issued a $110.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Thirteen investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Starbucks currently has an average rating of “Hold” and an average price target of $107.43.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated 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 directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 7,250 shares of company stock valued at $653,183 in the last 90 days. 1.98% of the stock is currently owned by company insiders.

Starbucks Company 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.