Bender Robert & Associates Sells 239 Shares of Starbucks Co. (NASDAQ:SBUX)

Bender Robert & Associates cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,310 shares of the coffee company’s stock after selling 239 shares during the period. Starbucks makes up 1.1% of Bender Robert & Associates’ portfolio, making the stock its 20th largest position. Bender Robert & Associates’ holdings in Starbucks were worth $4,350,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Starbucks by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 106,891,648 shares of the coffee company’s stock valued at $9,756,001,000 after acquiring an additional 387,632 shares during the period. State Street Corp lifted its position in Starbucks by 0.3% in the first quarter. State Street Corp now owns 44,120,185 shares of the coffee company’s stock valued at $4,594,235,000 after purchasing an additional 135,644 shares during the last quarter. Morgan Stanley boosted its stake in shares of Starbucks by 46.3% during the fourth quarter. Morgan Stanley now owns 26,718,368 shares of the coffee company’s stock valued at $2,650,462,000 after purchasing an additional 8,451,599 shares during the period. Northern Trust Corp grew its holdings in shares of Starbucks by 1.5% in the third quarter. Northern Trust Corp now owns 15,217,752 shares of the coffee company’s stock worth $1,388,924,000 after purchasing an additional 232,031 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Starbucks in the fourth quarter worth $1,222,931,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Starbucks

In other news, insider Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the insider now directly owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 7,250 shares of company stock worth $653,183. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

SBUX stock traded up $0.94 during trading on Thursday, hitting $87.15. 11,368,190 shares of the stock traded hands, compared to its average volume of 8,410,610. The stock has a market cap of $98.67 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.37 and a beta of 0.97. Starbucks Co. has a 1 year low of $84.29 and a 1 year high of $115.48. The firm’s 50 day moving average is $91.33 and its two-hundred day moving average is $94.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the company earned $0.75 EPS. The company’s quarterly revenue was up 8.2% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Co. will post 4.03 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors 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 payout ratio is 60.96%.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. HSBC assumed coverage on shares of Starbucks in a research report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 price objective on the stock. Gordon Haskett cut Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Tuesday, January 16th. Wedbush reissued a “neutral” rating and set a $95.00 target price on shares of Starbucks in a research note on Wednesday, January 31st. StockNews.com cut shares of Starbucks from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $105.00 price objective on shares of Starbucks in a report on Monday, April 1st. Thirteen research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average price target of $107.43.

Starbucks Company 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.