Sumitomo Mitsui Trust Holdings Inc. Sells 32,106 Shares of Starbucks Co. (NASDAQ:SBUX)

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 1.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,801,236 shares of the coffee company’s stock after selling 32,106 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Starbucks were worth $268,947,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BCK Partners Inc. purchased a new position in Starbucks during the 1st quarter valued at about $2,640,000. American Century Companies Inc. increased its position in Starbucks by 7.3% during the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after purchasing an additional 1,872 shares during the period. Roundview Capital LLC increased its position in Starbucks by 37.5% during the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after purchasing an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Starbucks during the 1st quarter valued at about $198,000. Finally, Mather Group LLC. increased its position in Starbucks by 77.5% during the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after purchasing an additional 3,017 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 1.1 %

Shares of Starbucks stock opened at $84.92 on Monday. The firm has a market cap of $96.15 billion, a PE ratio of 22.71, a P/E/G ratio of 1.36 and a beta of 0.98. The business has a 50-day moving average price of $91.86 and a 200 day moving average price of $94.61. Starbucks Co. has a twelve month low of $84.29 and a twelve month high of $115.48.

Starbucks (NASDAQ:SBUXGet Free Report) last issued 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). The company had revenue of $9.43 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. Starbucks’s revenue was up 8.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 EPS. On average, sell-side analysts expect that Starbucks Co. will post 4.05 EPS for the current year.

Starbucks Dividend Announcement

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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is 60.96%.

Insider Transactions at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the insider now owns 84,153 shares of the company’s stock, valued at $7,912,906.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,000 shares of company stock valued at $375,665 over the last 90 days. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. BMO Capital Markets cut their price objective on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 31st. JPMorgan Chase & Co. cut their price objective on shares of Starbucks from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 19th. TD Cowen reaffirmed a “hold” rating and issued a $100.00 price objective on shares of Starbucks in a research report on Thursday. Finally, Gordon Haskett downgraded shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research report on Tuesday, January 16th. Twelve investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $107.71.

Check Out Our Latest Report on SBUX

Starbucks Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXFree Report).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.