iA Global Asset Management Inc. Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

iA Global Asset Management Inc. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 9.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 378,189 shares of the coffee company’s stock after selling 37,869 shares during the period. iA Global Asset Management Inc.’s holdings in Starbucks were worth $29,442,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Vima LLC purchased a new position in shares of Starbucks in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC purchased a new position in Starbucks during the fourth quarter worth $26,000. New Millennium Group LLC bought a new position in Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC increased its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC purchased a new stake in shares of Starbucks in the fourth quarter valued at $27,000. 72.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SBUX shares. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. HSBC cut their target price on Starbucks from $107.00 to $84.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Jefferies Financial Group decreased their price target on Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. BMO Capital Markets cut their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $99.21.

Starbucks Trading Down 0.3 %

Shares of NASDAQ:SBUX traded down $0.29 on Friday, reaching $94.57. The company had a trading volume of 7,114,395 shares, compared to its average volume of 12,037,227. The firm has a market capitalization of $107.12 billion, a PE ratio of 26.05, a PEG ratio of 2.28 and a beta of 0.94. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm’s 50 day simple moving average is $80.76 and its 200-day simple moving average is $83.98.

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

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.41%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insider Buying and Selling at Starbucks

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

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.