Starbucks Co. (NASDAQ:SBUX) Shares Sold by Osaic Holdings Inc.

Osaic Holdings Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 43.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 513,033 shares of the coffee company’s stock after selling 400,951 shares during the period. Osaic Holdings Inc.’s holdings in Starbucks were worth $46,895,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Starbucks during the fourth quarter worth about $1,240,652,000. Flossbach Von Storch AG grew its position in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Starbucks by 2,624.3% in the first quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock worth $196,516,000 after buying an additional 2,071,378 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of Starbucks by 342.7% during the fourth quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock worth $207,444,000 after purchasing an additional 1,672,656 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its holdings in Starbucks by 432.5% in the fourth quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after buying an additional 1,656,591 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Trading Down 3.5 %

SBUX stock traded down $2.78 during midday trading on Monday, reaching $76.49. The company had a trading volume of 11,855,429 shares, compared to its average volume of 10,582,561. The company has a market capitalization of $86.64 billion, a P/E ratio of 21.18, a PEG ratio of 1.80 and a beta of 0.94. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a 50 day moving average of $77.99 and a two-hundred day moving average of $85.78.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The company had revenue of $8.56 billion during the quarter, compared to analyst estimates of $9.12 billion. During the same period in the prior year, the firm earned $0.74 EPS. Starbucks’s quarterly revenue was down 1.8% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 3.57 earnings per share for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.98%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Analysts Set New Price Targets

Several research analysts have recently commented on SBUX shares. Morgan Stanley decreased their target price on Starbucks from $104.00 to $98.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. HSBC lowered their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. UBS Group reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. The Goldman Sachs Group began coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Starbucks from $89.00 to $85.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Seventeen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has an average rating of “Hold” and a consensus target price of $91.71.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 3,750 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the completion of the sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction 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 transaction, the chief financial officer now directly owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Insiders sold 7,250 shares of company stock worth $579,375 over the last three months. 1.98% of the stock is currently owned by corporate insiders.

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.