Tealwood Asset Management Inc. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 21.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,296 shares of the coffee company’s stock after selling 6,554 shares during the period. Tealwood Asset Management Inc.’s holdings in Starbucks were worth $2,037,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Northern Oak Wealth Management Inc. lifted its holdings in shares of Starbucks by 95.7% during the 2nd quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock worth $31,000 after acquiring an additional 177 shares during the period. Paragon Capital Management LLC purchased a new position in Starbucks in the first quarter valued at approximately $29,000. Atlas Capital Advisors LLC raised its holdings in Starbucks by 53.3% in the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock valued at $35,000 after buying an additional 145 shares during the period. C J Advisory Inc purchased a new position in Starbucks in the first quarter valued at approximately $34,000. Finally, Capital Advisors Ltd. LLC raised its holdings in Starbucks by 111.0% in the second quarter. Capital Advisors Ltd. LLC now owns 633 shares of the coffee company’s stock valued at $53,000 after buying an additional 333 shares during the period. 72.32% of the stock is currently owned by institutional investors.

SBUX stock traded down $0.03 during mid-day trading on Thursday, reaching $96.29. The company had a trading volume of 196,649 shares, compared to its average volume of 8,039,421. The stock has a market capitalization of $115.70 billion, a P/E ratio of 39.79, a P/E/G ratio of 2.67 and a beta of 0.55. Starbucks Co. has a one year low of $52.42 and a one year high of $99.72. The stock’s 50-day simple moving average is $93.11 and its two-hundred day simple moving average is $80.01.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the business posted $0.62 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, research analysts predict that Starbucks Co. will post 2.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Thursday, August 8th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Wednesday, August 7th. Starbucks’s dividend payout ratio is currently 59.50%.

In other Starbucks news, Director Javier G. Teruel sold 59,838 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Jill Walker sold 6,492 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $95.70, for a total transaction of $621,284.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 129,639 shares of company stock worth $12,101,183. Company insiders own 3.98% of the company’s stock.

Several research analysts recently commented on the stock. Citigroup assumed coverage on shares of Starbucks in a report on Wednesday, June 26th. They issued a “buy” rating and a $83.65 price target on the stock. Oppenheimer raised their price target on shares of Starbucks from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Stifel Nicolaus increased their price objective on shares of Starbucks from $86.00 to $90.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Cowen set a $93.00 price objective on shares of Starbucks and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Morgan Stanley increased their price objective on shares of Starbucks from $81.00 to $88.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Starbucks currently has a consensus rating of “Buy” and an average target price of $89.53.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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