Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 4.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 120,790 shares of the coffee company’s stock after selling 5,008 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in Starbucks were worth $11,597,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SBUX. CX Institutional grew its holdings in shares of Starbucks by 298.7% in the 3rd quarter. CX Institutional now owns 38,472 shares of the coffee company’s stock worth $3,511,000 after acquiring an additional 28,822 shares during the last quarter. Secure Asset Management LLC boosted its position in Starbucks by 32.0% during the third quarter. Secure Asset Management LLC now owns 3,248 shares of the coffee company’s stock valued at $296,000 after purchasing an additional 787 shares during the last quarter. Stewart & Patten Co. LLC boosted its position in Starbucks by 5.1% during the third quarter. Stewart & Patten Co. LLC now owns 108,192 shares of the coffee company’s stock valued at $9,875,000 after purchasing an additional 5,265 shares during the last quarter. Verity & Verity LLC boosted its position in Starbucks by 1.3% during the third quarter. Verity & Verity LLC now owns 88,897 shares of the coffee company’s stock valued at $8,334,000 after purchasing an additional 1,175 shares during the last quarter. Finally, Roof Eidam Maycock Peralta LLC boosted its position in Starbucks by 5.6% during the third quarter. Roof Eidam Maycock Peralta LLC now owns 4,912 shares of the coffee company’s stock valued at $448,000 after purchasing an additional 262 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 transaction, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 7,250 shares of company stock valued at $651,738 in the last three months. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Performance

Shares of SBUX stock traded up $0.41 during trading hours on Friday, hitting $88.25. The company had a trading volume of 7,183,643 shares, compared to its average volume of 8,379,258. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The firm has a market capitalization of $99.92 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 1.49 and a beta of 0.97. The firm’s fifty day moving average is $90.46 and its 200 day moving average is $94.30.

Starbucks (NASDAQ:SBUX) last announced its 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). The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be issued a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, May 16th. Starbucks’s payout ratio is currently 60.96%.

Analyst Ratings Changes

A number of research firms recently issued reports on SBUX. BMO Capital Markets reduced their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Barclays reduced their price objective on Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Wedbush reduced their price target on Starbucks from $95.00 to $92.00 and set a “neutral” rating for the company in a research report on Friday. Finally, TD Cowen reaffirmed a “hold” rating and issued a $100.00 price target on shares of Starbucks in a research report on Thursday, April 11th. Fourteen investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $106.55.

About Starbucks

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.