Mutual of America Capital Management LLC Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Mutual of America Capital Management LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 148,538 shares of the coffee company’s stock after selling 4,447 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Starbucks were worth $13,575,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Starbucks by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 107,933,270 shares of the coffee company’s stock valued at $10,362,673,000 after purchasing an additional 1,041,622 shares during the period. Norges Bank purchased a new stake in Starbucks in the fourth quarter valued at approximately $1,240,652,000. Fisher Asset Management LLC raised its position in Starbucks by 2.4% in the fourth quarter. Fisher Asset Management LLC now owns 11,367,331 shares of the coffee company’s stock valued at $1,091,378,000 after purchasing an additional 268,030 shares during the period. Charles Schwab Investment Management Inc. raised its position in Starbucks by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock valued at $948,093,000 after purchasing an additional 27,496 shares during the period. Finally, Franklin Resources Inc. raised its position in Starbucks by 3.1% in the fourth quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after purchasing an additional 166,010 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley cut their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. Guggenheim dropped their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Robert W. Baird dropped their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Stifel Nicolaus dropped their price target on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, May 1st. Finally, HSBC dropped their price target on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. Seventeen analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $94.54.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the completion of the sale, the chief executive officer now directly owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 $6,933,582.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the 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 transaction, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The disclosure for this sale can be found here. Over the last three months, insiders sold 10,750 shares of company stock valued at $878,893. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX traded down $1.48 during trading hours on Monday, hitting $74.57. The company had a trading volume of 8,864,563 shares, compared to its average volume of 10,346,085. Starbucks Co. has a 1-year low of $71.80 and a 1-year high of $107.66. The company has a market cap of $84.47 billion, a PE ratio of 20.54, a price-to-earnings-growth ratio of 1.66 and a beta of 0.94. The business has a 50 day moving average of $78.22 and a 200-day moving average of $87.09.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The business had revenue of $8.56 billion during the quarter, compared to analysts’ expectations of $9.12 billion. During the same period in the previous year, the company posted $0.74 earnings per share. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. Sell-side analysts expect that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.06%. Starbucks’s payout ratio is 62.81%.

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.