Webster Bank N. A. Sells 1,275 Shares of Starbucks Co. (NASDAQ:SBUX)

Webster Bank N. A. cut its stake in Starbucks Co. (NASDAQ:SBUX) by 57.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 927 shares of the coffee company’s stock after selling 1,275 shares during the period. Webster Bank N. A.’s holdings in Starbucks were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of SBUX. Orca Investment Management LLC lifted its position in Starbucks by 6.6% during the fourth quarter. Orca Investment Management LLC now owns 7,494 shares of the coffee company’s stock worth $719,000 after acquiring an additional 466 shares during the last quarter. Cerity Partners LLC lifted its holdings in Starbucks by 481.9% during the 4th quarter. Cerity Partners LLC now owns 1,547,411 shares of the coffee company’s stock worth $148,567,000 after purchasing an additional 1,281,471 shares during the last quarter. Cox Capital Mgt LLC boosted its stake in Starbucks by 41.9% in the 1st quarter. Cox Capital Mgt LLC now owns 45,322 shares of the coffee company’s stock valued at $4,142,000 after purchasing an additional 13,372 shares during the period. Summa Corp. acquired a new position in Starbucks in the 4th quarter valued at $384,000. Finally, Brevan Howard Capital Management LP bought a new position in Starbucks during the 4th quarter worth $2,781,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBUX. William Blair downgraded shares of Starbucks from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 1st. DZ Bank cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price on the stock. in a report on Friday, May 3rd. Evercore ISI dropped their price target on shares of Starbucks from $120.00 to $92.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. UBS Group reduced their price target on Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Finally, Guggenheim dropped their price objective on Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a report on Friday, April 19th. Seventeen equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $94.54.

Starbucks Stock Down 1.7 %

NASDAQ SBUX opened at $77.85 on Friday. The company has a market cap of $88.18 billion, a price-to-earnings ratio of 21.45, a price-to-earnings-growth ratio of 1.70 and a beta of 0.96. Starbucks Co. has a twelve month low of $71.80 and a twelve month high of $107.66. The business’s fifty day moving average is $79.66 and its 200 day moving average is $88.02.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The firm had revenue of $8.56 billion during the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. Starbucks’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.74 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 3.59 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Buying and Selling at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total transaction of $277,517.50. Following the transaction, the chief executive officer now owns 81,199 shares in the company, valued at $6,933,582.61. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,750 shares of company stock worth $878,893. 1.98% of the stock is currently owned by company 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.