Welch & Forbes LLC Sells 1,305 Shares of Starbucks Co. (NASDAQ:SBUX)

Welch & Forbes LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 262,291 shares of the coffee company’s stock after selling 1,305 shares during the period. Welch & Forbes LLC’s holdings in Starbucks were worth $25,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Flossbach Von Storch AG raised its holdings in Starbucks by 8,677.8% in the 4th 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 lifted its position 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 worth $195,825,000 after purchasing an additional 1,656,591 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Starbucks during the third quarter worth $147,125,000. Nordea Investment Management AB increased its holdings in Starbucks by 44.8% in 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 buying an additional 1,591,206 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock valued at $148,567,000 after acquiring an additional 1,281,471 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX stock traded down $0.21 during mid-day trading on Monday, hitting $72.90. 18,601,605 shares of the company were exchanged, compared to its average volume of 9,574,881. The firm has a market cap of $82.57 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.58 and a beta of 0.97. The firm’s 50 day simple moving average is $88.46 and its 200 day simple moving average is $93.69. Starbucks Co. has a 1-year low of $72.67 and a 1-year high of $108.12.

Starbucks (NASDAQ:SBUX) last announced its 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). The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.74 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 3.63 EPS 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 issued a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 3.13%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on 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 owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 7,250 shares of company stock worth $651,738 over the last three months. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SBUX shares. BTIG Research dropped their target price on Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Starbucks from $100.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lowered Starbucks from a “buy” rating to a “hold” rating and lowered their target price for the company from $108.00 to $89.00 in a research note on Wednesday, May 1st. Robert W. Baird reduced their price target on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, Stifel Nicolaus lowered their price objective on shares of Starbucks from $90.00 to $80.00 and set a “hold” rating for the company in a research report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $96.43.

Starbucks 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.