First Interstate Bank Sells 411 Shares of Starbucks Co. (NASDAQ:SBUX)

First Interstate Bank cut its position in shares of Starbucks Co. (NASDAQ:SBUX) by 13.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,747 shares of the coffee company’s stock after selling 411 shares during the quarter. First Interstate Bank’s holdings in Starbucks were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SBUX. BCK Partners Inc. bought a new stake in Starbucks in the first quarter worth $2,640,000. American Century Companies Inc. increased its position in Starbucks by 7.3% during the first quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock valued at $2,514,000 after acquiring an additional 1,872 shares during the last quarter. Roundview Capital LLC increased its position in Starbucks by 37.5% during the first quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after acquiring an additional 1,952 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Starbucks during the first quarter valued at $198,000. Finally, Mather Group LLC. increased its position in Starbucks by 77.5% during the first quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after acquiring an additional 3,017 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the firm’s 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 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 Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 4,000 shares of company stock worth $375,665 in the last ninety days. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 0.1 %

Shares of NASDAQ SBUX traded up $0.10 during midday trading on Wednesday, hitting $85.52. The company’s stock had a trading volume of 773,680 shares, compared to its average volume of 8,282,897. The business’s 50 day moving average is $91.51 and its two-hundred day moving average is $94.53. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The firm has a market cap of $96.83 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.36 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The business 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%. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 earnings per share. On average, analysts predict that Starbucks Co. will post 4.04 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.67%. Starbucks’s payout ratio is currently 60.96%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. Jefferies Financial Group reduced their price target on Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research report on Tuesday. Morgan Stanley cut their target price on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, April 12th. BTIG Research cut their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Wednesday, January 31st. BMO Capital Markets cut their target price on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, January 31st. Finally, Citigroup dropped their price target on Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Thirteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Starbucks currently has an average rating of “Hold” and an average price target of $107.43.

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.