Starbucks Co. (NASDAQ:SBUX) Shares Sold by Ocean Capital Management LLC

Ocean Capital Management LLC cut its position in Starbucks Co. (NASDAQ:SBUX) by 9.8% during the fourth quarter, Holdings Channel reports. The firm owned 12,330 shares of the coffee company’s stock after selling 1,333 shares during the period. Starbucks makes up approximately 0.5% of Ocean Capital Management LLC’s portfolio, making the stock its 23rd largest position. Ocean Capital Management LLC’s holdings in Starbucks were worth $1,184,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SBUX. Metis Global Partners LLC lifted its stake in Starbucks by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 56,939 shares of the coffee company’s stock valued at $5,197,000 after acquiring an additional 7,619 shares during the period. Insigneo Advisory Services LLC lifted its position in Starbucks by 60.6% during the third quarter. Insigneo Advisory Services LLC now owns 9,464 shares of the coffee company’s stock valued at $864,000 after purchasing an additional 3,570 shares during the period. Motco boosted its holdings in Starbucks by 1.1% in the third quarter. Motco now owns 74,829 shares of the coffee company’s stock valued at $6,830,000 after purchasing an additional 811 shares during the last quarter. Anchor Investment Management LLC acquired a new stake in Starbucks during the 4th quarter worth about $1,348,000. Finally, First Command Advisory Services Inc. purchased a new position in shares of Starbucks during the 3rd quarter valued at about $524,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of Starbucks stock opened at $91.39 on Friday. The stock’s 50 day simple moving average is $93.04 and its 200-day simple moving average is $95.17. The stock has a market cap of $103.47 billion, a P/E ratio of 24.44, a P/E/G ratio of 1.46 and a beta of 0.98. Starbucks Co. has a 1-year low of $89.21 and a 1-year high of $115.48.

Starbucks (NASDAQ:SBUX) last posted 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 for 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%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.75 EPS. As a group, research analysts expect that Starbucks Co. will post 4.06 EPS for the current fiscal year.

Starbucks Dividend Announcement

The firm 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 dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 60.96%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on SBUX. BMO Capital Markets reduced their price target on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Barclays decreased their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research note on Wednesday, January 31st. HSBC assumed coverage on shares of Starbucks in a report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective for the company. TD Cowen reissued a “market perform” rating and set a $102.00 target price on shares of Starbucks in a research note on Tuesday, March 19th. Finally, Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research note on Tuesday, January 16th. Twelve investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $110.05.

Insider Buying and Selling at Starbucks

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