Boston Trust Walden Corp Sells 92,172 Shares of Starbucks Co. (NASDAQ:SBUX)

Boston Trust Walden Corp trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 819,084 shares of the coffee company’s stock after selling 92,172 shares during the period. Boston Trust Walden Corp owned 0.07% of Starbucks worth $79,852,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board purchased a new stake in shares of Starbucks in the first quarter worth about $415,167,000. Marshall Wace LLP grew its holdings in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new stake in Starbucks in the second quarter worth $243,910,000. Flossbach Von Storch AG raised its stake in Starbucks by 106.7% during the first 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. Finally, Capital World Investors bought a new position in Starbucks during the first quarter valued at $257,721,000. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

NASDAQ SBUX traded up $0.16 on Friday, reaching $97.31. 9,665,550 shares of the stock traded hands, compared to its average volume of 11,366,117. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a fifty day moving average price of $95.48 and a 200-day moving average price of $85.05. The company has a market cap of $110.22 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued 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 company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the business earned $1.00 EPS. The firm’s quarterly revenue was down .6% on a year-over-year basis. As a group, research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.51%. Starbucks’s payout ratio is 67.22%.

Analyst Ratings Changes

A number of research analysts recently commented on SBUX shares. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Stifel Nicolaus lowered their price objective on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup cut their target price on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Wednesday. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

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.