TIAA Trust National Association Has $4.43 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

TIAA Trust National Association lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.5% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,852 shares of the coffee company’s stock after selling 7,398 shares during the period. TIAA Trust National Association’s holdings in Starbucks were worth $4,426,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the business. Vima LLC bought a new stake in Starbucks during the 4th quarter worth $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks during the fourth quarter worth about $26,000. New Millennium Group LLC acquired a new position in shares of Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC raised its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC acquired a new stake in Starbucks during the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related 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 sale, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock worth $865,514 in the last 90 days. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Barclays lifted their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and increased their price target for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Jefferies Financial Group cut their price objective on Starbucks from $84.00 to $80.00 and set a “hold” rating on the stock in a research note on Wednesday, July 31st. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $99.42.

Starbucks Stock Down 0.9 %

Shares of Starbucks stock opened at $92.33 on Thursday. The company has a market cap of $104.63 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 2.26 and a beta of 0.96. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50 day moving average price of $81.90 and a 200-day moving average price of $83.90.

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, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the prior year, the business posted $1.00 EPS. The business’s revenue was down .6% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 3.56 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.47%. Starbucks’s dividend payout ratio is currently 62.81%.

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.