Mn Services Vermogensbeheer B.V. Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Mn Services Vermogensbeheer B.V. lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 447,600 shares of the coffee company’s stock after selling 10,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Starbucks were worth $34,846,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. First National Trust Co grew its stake in Starbucks by 2.2% during the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock worth $483,000 after purchasing an additional 106 shares in the last quarter. Graybill Wealth Management LTD. boosted its stake in shares of Starbucks by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after buying an additional 109 shares during the period. Versant Capital Management Inc increased its stake in shares of Starbucks by 7.9% during the first quarter. Versant Capital Management Inc now owns 1,659 shares of the coffee company’s stock worth $152,000 after buying an additional 122 shares during the period. Valmark Advisers Inc. raised its holdings in Starbucks by 1.1% in the fourth quarter. Valmark Advisers Inc. now owns 10,857 shares of the coffee company’s stock valued at $1,042,000 after acquiring an additional 123 shares in the last quarter. Finally, McAdam LLC lifted its stake in Starbucks by 3.3% in the fourth quarter. McAdam LLC now owns 3,826 shares of the coffee company’s stock worth $367,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on SBUX shares. Barclays increased their price objective on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. William Blair downgraded Starbucks from an “outperform” rating to a “market perform” rating in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday. Finally, TD Cowen upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $81.00 to $105.00 in a research note on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $99.21.

Starbucks Stock Performance

NASDAQ:SBUX traded up $1.59 during trading hours on Friday, hitting $94.02. The company’s stock had a trading volume of 11,483,711 shares, compared to its average volume of 12,025,455. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The business’s 50-day moving average is $79.51 and its two-hundred day moving average is $83.90. The company has a market capitalization of $106.50 billion, a PE ratio of 25.90, a PEG ratio of 2.28 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.00 EPS. As a group, analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.43%. Starbucks’s payout ratio is 62.81%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock valued at $865,514 in the last quarter. 1.98% of the stock is currently owned by corporate insiders.

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.