Ninety One UK Ltd Has $65.25 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Ninety One UK Ltd trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 21.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 679,603 shares of the coffee company’s stock after selling 182,169 shares during the quarter. Ninety One UK Ltd owned 0.06% of Starbucks worth $65,249,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BCK Partners Inc. acquired a new stake in Starbucks during the 1st quarter worth approximately $2,640,000. American Century Companies Inc. boosted its stake in Starbucks by 7.3% in the 1st quarter. American Century Companies Inc. now owns 27,634 shares of the coffee company’s stock worth $2,514,000 after purchasing an additional 1,872 shares during the period. Roundview Capital LLC raised its stake in shares of Starbucks by 37.5% in the 1st quarter. Roundview Capital LLC now owns 7,152 shares of the coffee company’s stock valued at $651,000 after purchasing an additional 1,952 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Starbucks during the first quarter worth about $198,000. Finally, Mather Group LLC. raised its position in Starbucks by 77.5% in the 1st quarter. Mather Group LLC. now owns 6,912 shares of the coffee company’s stock valued at $629,000 after buying an additional 3,017 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SBUX. Wedbush reiterated a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a report on Wednesday, January 31st. BMO Capital Markets decreased their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Stifel Nicolaus dropped their target price on Starbucks from $102.00 to $90.00 and set a “hold” rating on the stock in a report on Thursday, April 11th. TD Cowen reaffirmed a “hold” rating and set a $100.00 price target on shares of Starbucks in a research report on Thursday, April 11th. Finally, Citigroup cut their price objective on Starbucks from $102.00 to $95.00 and set a “neutral” rating for the company in a report on Friday, April 12th. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $107.43.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at $6,933,582.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders sold 7,250 shares of company stock worth $653,183. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 1.0 %

SBUX stock traded up $0.84 during trading hours on Thursday, hitting $87.05. 4,965,387 shares of the stock were exchanged, compared to its average volume of 8,317,680. The company has a 50-day simple moving average of $91.33 and a two-hundred day simple moving average of $94.47. The firm has a market capitalization of $98.56 billion, a P/E ratio of 23.05, a P/E/G ratio of 1.37 and a beta of 0.97. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the firm earned $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 4.03 earnings per share for the current year.

Starbucks Dividend Announcement

The business 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 $0.57 dividend. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.62%. Starbucks’s dividend payout ratio is presently 60.96%.

About Starbucks

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.