Starbucks Co. (NASDAQ:SBUX) Stake Decreased by Bank of New Hampshire

Bank of New Hampshire decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,626 shares of the coffee company’s stock after selling 193 shares during the period. Bank of New Hampshire’s holdings in Starbucks were worth $252,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Flossbach Von Storch AG lifted 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 purchasing an additional 2,684,470 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of Starbucks in the third quarter worth $147,125,000. Nordea Investment Management AB increased its stake in shares of Starbucks by 44.8% in the fourth quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock worth $493,350,000 after acquiring an additional 1,591,206 shares during the last quarter. Cerity Partners LLC increased its position in 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 buying an additional 1,281,471 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Starbucks by 32.7% during the third quarter. Envestnet Asset Management Inc. now owns 4,679,621 shares of the coffee company’s stock worth $427,109,000 after buying an additional 1,154,020 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. TD Cowen reissued a “hold” rating and set a $100.00 target price on shares of Starbucks in a research report on Thursday, April 11th. Wedbush restated a “neutral” rating and set a $95.00 price target on shares of Starbucks in a report on Wednesday, January 31st. Guggenheim reduced their target price on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research note on Friday, April 19th. Jefferies Financial Group cut their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating for the company in a research note on Tuesday, April 16th. Finally, Morgan Stanley cut their price target on shares of Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Fourteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $106.68.

Starbucks Stock Performance

Starbucks stock traded down $0.91 during mid-day trading on Thursday, hitting $87.84. 6,823,402 shares of the company traded hands, compared to its average volume of 8,388,295. Starbucks Co. has a one year low of $84.29 and a one year high of $115.48. The stock has a market cap of $99.45 billion, a price-to-earnings ratio of 23.48, a price-to-earnings-growth ratio of 1.48 and a beta of 0.97. The stock has a fifty day moving average price of $90.57 and a 200-day moving average price of $94.35.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The company’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. Sell-side analysts predict that Starbucks Co. will post 3.99 EPS for the current year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, May 16th. Starbucks’s dividend payout ratio is presently 60.96%.

Insider Buying and Selling

In other news, insider Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the insider now owns 84,153 shares of the company’s stock, valued at approximately $7,912,906.59. The sale was disclosed in a legal 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 in the last quarter. Corporate insiders own 1.98% of the company’s stock.

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.