Fjarde AP Fonden Fourth Swedish National Pension Fund Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in Starbucks Co. (NASDAQ:SBUX) by 5.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 329,295 shares of the coffee company’s stock after selling 19,000 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Starbucks were worth $21,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC raised its holdings in shares of Starbucks by 0.6% during the 1st quarter. Mutual of America Capital Management LLC now owns 160,976 shares of the coffee company’s stock worth $10,583,000 after acquiring an additional 903 shares during the period. Cigna Investments Inc. New increased its position in shares of Starbucks by 6.4% during the 1st quarter. Cigna Investments Inc. New now owns 33,288 shares of the coffee company’s stock worth $2,189,000 after purchasing an additional 2,000 shares during the last quarter. Blair William & Co. IL raised its holdings in Starbucks by 6.3% in the 1st quarter. Blair William & Co. IL now owns 2,963,241 shares of the coffee company’s stock valued at $194,803,000 after buying an additional 176,670 shares during the period. Sequoia Financial Advisors LLC lifted its position in Starbucks by 2.1% in the first quarter. Sequoia Financial Advisors LLC now owns 22,450 shares of the coffee company’s stock valued at $1,476,000 after buying an additional 453 shares during the last quarter. Finally, Roberts Glore & Co. Inc. IL boosted its stake in Starbucks by 1.0% during the first quarter. Roberts Glore & Co. Inc. IL now owns 33,256 shares of the coffee company’s stock worth $2,186,000 after buying an additional 335 shares during the period. 67.70% of the stock is owned by hedge funds and other institutional investors.

SBUX stock traded down $0.43 on Friday, hitting $77.62. The company’s stock had a trading volume of 7,580,153 shares, compared to its average volume of 11,421,882. Starbucks Co. has a 1 year low of $50.02 and a 1 year high of $99.72. The stock has a market cap of $91.19 billion, a price-to-earnings ratio of 27.62, a price-to-earnings-growth ratio of 4.57 and a beta of 0.80. The firm has a 50 day moving average of $73.70 and a two-hundred day moving average of $80.77.

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

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Thursday, May 7th. Starbucks’s payout ratio is currently 57.95%.

In other news, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $70.14, for a total value of $140,280.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 4,252 shares of the business’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $74.89, for a total transaction of $318,432.28. Following the transaction, the director now owns 22,728 shares in the company, valued at $1,702,099.92. The disclosure for this sale can be found here. In the last three months, insiders sold 10,504 shares of company stock worth $726,546. Corporate insiders own 0.41% of the company’s stock.

Several research firms recently weighed in on SBUX. Credit Suisse Group reiterated a “buy” rating and issued a $82.00 target price on shares of Starbucks in a report on Wednesday, April 29th. Telsey Advisory Group reiterated a “market perform” rating on shares of Starbucks in a research note on Friday, March 6th. Zacks Investment Research lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $76.00 price objective for the company. in a research note on Tuesday, May 5th. Argus dropped their price objective on shares of Starbucks from $110.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, April 16th. Finally, Bank of America cut shares of Starbucks from a “buy” rating to a “neutral” rating and raised their price target for the company from $68.00 to $73.00 in a research report on Thursday, April 9th. One investment analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $81.77.

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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