Starbucks Co. (NASDAQ:SBUX) Stock Position Cut by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 13.4% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,485 shares of the coffee company’s stock after selling 539 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors’ holdings in Starbucks were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Norges Bank bought a new position in shares of Starbucks during the 4th quarter valued at about $1,240,652,000. Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks during the 1st quarter valued at about $415,167,000. Flossbach Von Storch AG boosted its position in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares in the last quarter. Capital World Investors bought a new position in shares of Starbucks during the 1st quarter valued at about $257,721,000. Finally, Van ECK Associates Corp boosted its position in shares of Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock valued at $196,516,000 after purchasing an additional 2,071,378 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent analyst reports. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Morgan Stanley reiterated an “overweight” rating and issued a $98.00 target price on shares of Starbucks in a report on Wednesday, July 31st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. BTIG Research decreased their target price on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, May 1st. Finally, Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

Starbucks Stock Performance

Shares of SBUX opened at $94.02 on Friday. The firm has a market cap of $106.50 billion, a PE ratio of 25.90, a PEG ratio of 2.28 and a beta of 0.94. The firm’s 50 day moving average price is $79.51 and its 200 day moving average price is $83.99. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS 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 company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter last year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is 62.81%.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 owns 62,502 shares in the company, valued at $5,697,682.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Insiders have sold a total of 9,790 shares of company stock valued at $865,514 over the last 90 days. 1.98% of the stock is currently 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.