Calamos Advisors LLC Sells 2,948 Shares of Starbucks Co. (NASDAQ:SBUX)

Calamos Advisors LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 349,398 shares of the coffee company’s stock after selling 2,948 shares during the quarter. Calamos Advisors LLC’s holdings in Starbucks were worth $33,546,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SBUX. Federated Hermes Inc. boosted its position in Starbucks by 22.7% in the fourth quarter. Federated Hermes Inc. now owns 67,595 shares of the coffee company’s stock valued at $6,490,000 after buying an additional 12,495 shares in the last quarter. Peterson Wealth Services lifted its stake in shares of Starbucks by 1.1% in the 4th quarter. Peterson Wealth Services now owns 28,154 shares of the coffee company’s stock valued at $2,703,000 after acquiring an additional 304 shares during the last quarter. HF Advisory Group LLC acquired a new stake in shares of Starbucks during the 4th quarter valued at $449,000. Flossbach Von Storch AG increased its holdings in Starbucks by 8,677.8% in the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock worth $260,706,000 after purchasing an additional 2,684,470 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Starbucks by 81.8% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,258 shares of the coffee company’s stock valued at $217,000 after purchasing an additional 1,016 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX traded up $0.94 during trading on Thursday, reaching $87.15. The company’s stock had a trading volume of 11,368,190 shares, compared to its average volume of 8,410,610. The firm has a market cap of $98.67 billion, a price-to-earnings ratio of 23.05, a price-to-earnings-growth ratio of 1.37 and a beta of 0.97. Starbucks Co. has a 12 month low of $84.29 and a 12 month high of $115.48. The firm has a 50 day moving average of $91.33 and a 200-day moving average of $94.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). The company had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. Starbucks’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.75 EPS. Equities research analysts forecast that Starbucks Co. will post 4.03 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Friday, May 17th will be paid a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.62%. Starbucks’s payout ratio is 60.96%.

Wall Street Analyst Weigh In

SBUX has been the subject of several recent research reports. Morgan Stanley lowered their price objective on Starbucks from $120.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, April 12th. Barclays reduced their price objective on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 31st. Stephens reaffirmed an “equal weight” rating and set a $110.00 target price on shares of Starbucks in a report on Wednesday, January 31st. Wells Fargo & Company reissued an “overweight” rating and issued a $105.00 price target on shares of Starbucks in a research note on Monday, April 1st. Finally, HSBC began coverage on Starbucks in a report on Wednesday, December 20th. They issued a “hold” rating and a $107.00 target price on the stock. Thirteen analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Hold” and an average price target of $107.43.

Insider Buying and Selling at Starbucks

In other Starbucks news, insider Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the insider now owns 84,153 shares in the company, valued at $7,912,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 7,250 shares of company stock worth $653,183 over the last ninety days. 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.