Summit Trail Advisors LLC Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

Summit Trail Advisors LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,558 shares of the coffee company’s stock after selling 183 shares during the period. Summit Trail Advisors LLC’s holdings in Starbucks were worth $1,206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Flossbach Von Storch AG raised its holdings in shares of Starbucks by 8,677.8% in the fourth quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after acquiring an additional 2,684,470 shares in the last quarter. Los Angeles Capital Management LLC grew its position in shares of Starbucks by 432.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock worth $195,825,000 after buying an additional 1,656,591 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Starbucks in the third quarter valued at approximately $147,125,000. Nordea Investment Management AB lifted its holdings in shares of Starbucks by 44.8% during the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after purchasing an additional 1,591,206 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in shares of Starbucks by 481.9% during the fourth quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after acquiring an additional 1,281,471 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

SBUX traded down $0.21 on Monday, reaching $72.90. 18,601,605 shares of the company’s stock were exchanged, compared to its average volume of 9,574,881. The stock has a market cap of $82.57 billion, a PE ratio of 20.20, a P/E/G ratio of 1.58 and a beta of 0.97. Starbucks Co. has a twelve month low of $72.67 and a twelve month high of $108.12. The stock’s fifty day moving average price is $88.89 and its 200-day moving average price is $93.84.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. 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 business posted $0.74 EPS. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 3.63 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Thursday, May 16th. Starbucks’s payout ratio is presently 62.81%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SBUX shares. JPMorgan Chase & Co. dropped their price objective on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a report on Wednesday, May 1st. Citigroup reduced their price objective on Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. HSBC dropped their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research report on Friday. BMO Capital Markets reduced their price target on shares of Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Starbucks from a “buy” rating to a “hold” rating and dropped their price objective for the company from $108.00 to $89.00 in a report on Wednesday, May 1st. Seventeen equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $96.43.

Insider Activity at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now directly owns 84,153 shares in the company, valued at approximately $7,912,906.59. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 7,250 shares of company stock worth $651,738. Insiders own 1.98% of the company’s stock.

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.