Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bokf Na

Bokf Na decreased its position in Starbucks Co. (NASDAQ:SBUX) by 24.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 77,180 shares of the coffee company’s stock after selling 25,110 shares during the quarter. Bokf Na’s holdings in Starbucks were worth $7,064,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SBUX. Kestra Advisory Services LLC raised its position in shares of Starbucks by 18.8% during the first quarter. Kestra Advisory Services LLC now owns 147,695 shares of the coffee company’s stock worth $13,498,000 after purchasing an additional 23,326 shares during the period. Epoch Investment Partners Inc. raised its position in shares of Starbucks by 25.2% during the first quarter. Epoch Investment Partners Inc. now owns 1,198,981 shares of the coffee company’s stock worth $109,575,000 after purchasing an additional 241,700 shares during the period. LRI Investments LLC acquired a new stake in shares of Starbucks during the first quarter worth $136,000. Guardian Capital Advisors LP raised its position in shares of Starbucks by 78.3% during the first quarter. Guardian Capital Advisors LP now owns 49,465 shares of the coffee company’s stock worth $4,264,000 after purchasing an additional 21,716 shares during the period. Finally, Cloverfields Capital Group LP raised its position in shares of Starbucks by 76.0% during the first quarter. Cloverfields Capital Group LP now owns 58,010 shares of the coffee company’s stock worth $5,302,000 after purchasing an additional 25,047 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX traded up $0.73 during trading hours on Friday, hitting $74.05. 12,387,111 shares of the company were exchanged, compared to its average volume of 11,764,148. The company has a market cap of $83.88 billion, a PE ratio of 20.40, a PEG ratio of 1.68 and a beta of 0.94. The firm’s 50 day moving average is $77.88 and its 200-day moving average is $85.19. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The business’s revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.74 EPS. As a group, equities analysts forecast that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced 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 yield of 3.08%. Starbucks’s payout ratio is 62.81%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Wedbush cut their target price on Starbucks from $81.00 to $77.00 and set a “neutral” rating on the stock in a research report on Friday, July 19th. BTIG Research dropped their price target on Starbucks from $115.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 1st. Citigroup dropped their price target on Starbucks from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Bank of America upped their price target on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Starbucks from $89.00 to $85.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $91.71.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The sale was disclosed in a filing with the SEC, which is available 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 value of $260,000.00. Following the completion of the transaction, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The disclosure for this sale can be found here. Insiders sold a total of 7,250 shares of company stock worth $579,375 in the last 90 days. 1.98% of the stock is owned by company insiders.

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.