National Asset Management Inc. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 13.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,210 shares of the coffee company’s stock after selling 6,817 shares during the period. National Asset Management Inc.’s holdings in Starbucks were worth $2,775,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Candriam Luxembourg S.C.A. grew its holdings in Starbucks by 2.6% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 383,061 shares of the coffee company’s stock worth $33,679,000 after acquiring an additional 9,697 shares during the period. RFG Advisory LLC grew its holdings in Starbucks by 8.6% during the 4th quarter. RFG Advisory LLC now owns 7,892 shares of the coffee company’s stock worth $694,000 after acquiring an additional 628 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Starbucks during the 4th quarter worth $106,000. Savior LLC acquired a new stake in Starbucks during the 4th quarter worth $78,000. Finally, Merriman Wealth Management LLC grew its holdings in Starbucks by 4.2% during the 4th quarter. Merriman Wealth Management LLC now owns 26,760 shares of the coffee company’s stock worth $2,353,000 after acquiring an additional 1,083 shares during the period. 67.70% of the stock is owned by institutional investors and hedge funds.

SBUX has been the subject of a number of analyst reports. Stephens lowered their target price on shares of Starbucks from $80.00 to $72.00 and set an “equal weight” rating for the company in a report on Wednesday, April 29th. Barclays reduced their price target on shares of Starbucks from $97.00 to $92.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 29th. Wedbush lifted their price target on shares of Starbucks from $71.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Royal Bank of Canada lifted their price target on shares of Starbucks from $80.00 to $86.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Finally, Goldman Sachs Group reduced their price target on shares of Starbucks from $95.00 to $82.00 and set a “buy” rating on the stock in a research report on Friday, March 6th. One research analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have issued a buy rating to the company. Starbucks presently has a consensus rating of “Hold” and a consensus target price of $81.77.

In other news, CAO Jill Walker sold 2,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $70.14, for a total transaction of $140,280.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $62.99, for a total transaction of $267,833.48. Following the transaction, the director now owns 22,728 shares in the company, valued at $1,431,636.72. The disclosure for this sale can be found here. Insiders have sold a total of 10,504 shares of company stock worth $726,546 over the last three months. Insiders own 0.41% of the company’s stock.

NASDAQ:SBUX traded down $1.03 on Friday, hitting $77.02. 3,890,247 shares of the company’s stock were exchanged, compared to its average volume of 11,681,918. The firm has a 50-day moving average price of $73.45 and a 200-day moving average price of $80.80. Starbucks Co. has a 52 week low of $50.02 and a 52 week high of $99.72. The company has a market cap of $90.41 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 4.55 and a beta of 0.80.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, April 28th. The coffee company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Starbucks had a negative return on equity of 50.19% and a net margin of 12.71%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. Research analysts anticipate that Starbucks Co. will post 1.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 8th will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, May 7th. This represents a $1.64 annualized dividend and a yield of 2.13%. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.

About Starbucks

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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