Baillie Gifford & Co. Sells 19,120 Shares of Starbucks Co. (NASDAQ:SBUX)

Baillie Gifford & Co. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 888,189 shares of the coffee company’s stock after selling 19,120 shares during the quarter. Baillie Gifford & Co.’s holdings in Starbucks were worth $81,172,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Orca Investment Management LLC grew its position in shares of Starbucks by 6.6% in the 4th quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after buying an additional 466 shares during the last quarter. Cerity Partners LLC raised its holdings in Starbucks by 481.9% in the 4th 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. Cox Capital Mgt LLC lifted its position in shares of Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock worth $4,142,000 after purchasing an additional 13,372 shares during the period. Summa Corp. bought a new stake in shares of Starbucks during the 4th quarter valued at about $384,000. Finally, Brevan Howard Capital Management LP purchased a new position in shares of Starbucks during the fourth quarter valued at about $2,781,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was 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 disclosure for this sale can be found here. Insiders sold 10,750 shares of company stock worth $878,893 in the last three months. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.3 %

SBUX stock traded down $0.21 during trading on Friday, reaching $76.05. The stock had a trading volume of 9,663,107 shares, compared to its average volume of 9,612,150. The stock’s 50 day moving average is $78.50 and its two-hundred day moving average is $87.36. The firm has a market cap of $86.14 billion, a PE ratio of 20.95, a PEG ratio of 1.67 and a beta of 0.94. Starbucks Co. has a 52 week low of $71.80 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. Starbucks’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter last year, the company earned $0.74 EPS. On average, research analysts anticipate that Starbucks Co. will post 3.58 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SBUX. Morgan Stanley decreased their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. Jefferies Financial Group dropped their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on shares of Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective on the stock. William Blair cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and reduced their price objective for the company from $108.00 to $89.00 in a research report on Wednesday, May 1st. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $94.54.

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.