Candriam S.C.A. Has $25 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Candriam S.C.A. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 54.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 321,143 shares of the coffee company’s stock after selling 385,636 shares during the period. Candriam S.C.A.’s holdings in Starbucks were worth $25,000,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vima LLC acquired a new position in shares of Starbucks in the 4th quarter valued at $26,000. Scarborough Advisors LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $26,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new stake in shares of Starbucks in the 4th quarter worth about $27,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In other 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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock worth $865,514 over the last ninety days. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on SBUX. The Goldman Sachs Group began coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 price objective on the stock. Barclays increased their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. JPMorgan Chase & Co. decreased their price objective on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, July 10th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Finally, Wedbush restated a “neutral” rating and set a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $99.42.

Starbucks Stock Performance

Shares of SBUX opened at $91.15 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm’s 50 day moving average price is $82.41 and its two-hundred day moving average price is $83.88. The firm has a market cap of $103.29 billion, a P/E ratio of 25.11, a PEG ratio of 2.21 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down .6% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a $0.57 dividend. The ex-dividend date was Friday, August 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.50%. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Starbucks 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.