O Shaughnessy Asset Management LLC Has $10.71 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

O Shaughnessy Asset Management LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 1.1% during the first quarter, Holdings Channel reports. The institutional investor owned 117,167 shares of the coffee company’s stock after selling 1,313 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Starbucks were worth $10,708,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SBUX. Vima LLC acquired a new position in shares of Starbucks during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in Starbucks in the 4th quarter valued at about $26,000. DSM Capital Partners LLC bought a new position in Starbucks during the fourth quarter worth about $27,000. Fairman Group LLC acquired a new position in Starbucks during the fourth quarter worth approximately $30,000. Finally, Cypress Capital Management LLC WY increased its position in Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock worth $31,000 after buying an additional 185 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.4 %

SBUX traded down $0.29 during trading on Tuesday, hitting $76.26. 9,583,581 shares of the company’s stock traded hands, compared to its average volume of 10,630,112. The company’s 50 day simple moving average is $78.00 and its two-hundred day simple moving average is $85.66. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market capitalization of $86.38 billion, a price-to-earnings ratio of 21.12, a PEG ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to analysts’ expectations 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 earned $0.74 earnings per share. On average, equities analysts expect that Starbucks Co. will post 3.57 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a yield of 2.99%. Starbucks’s dividend payout ratio is presently 62.81%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SBUX. Morgan Stanley dropped their price objective on shares of Starbucks from $104.00 to $98.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Evercore ISI lowered Starbucks from an “outperform” rating to an “inline” rating and decreased their price objective for the company from $92.00 to $80.00 in a report on Tuesday, July 16th. Wedbush reduced their target price on shares of Starbucks from $81.00 to $77.00 and set a “neutral” rating for the company in a research report on Friday. BMO Capital Markets decreased their target price on shares of Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Guggenheim cut their price target on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Seventeen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $91.71.

Insider Buying and Selling at Starbucks

In other Starbucks 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 transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of Starbucks 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 sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at $5,234,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock valued at $579,375 over the last ninety days. 1.98% of the stock is currently owned by company insiders.

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.