Swedbank AB sells 20,215 shares of Starbucks Co. (NASDAQ:SBUX)

Swedbank AB reduced its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 3.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 549,996 shares of the coffee company’s stock after selling 20,215 shares during the period. Swedbank AB’s holdings in Starbucks were worth $42,817,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the company. Lorne Steinberg Wealth Management Inc. raised its stake in Starbucks by 1.4% in the second quarter. Lorne Steinberg Wealth Management Inc. now owns 46,155 shares of the coffee company’s stock valued at $3,593,000 after purchasing an additional 635 shares in the last quarter. ERn Financial LLC grew its stake in Starbucks by 7.1% in the second quarter. ERn Financial LLC now owns 4,836 shares of the coffee company’s stock valued at $376,000 after buying an additional 322 shares in the last quarter. Westside Investment Management Inc. raised its stake in Starbucks by 3.3% in the second quarter. Westside Investment Management Inc. now owns 13,220 shares of the coffee company’s stock valued at $1,039,000 after buying an additional 422 shares during the last quarter. Brown Lisle Cummings Inc. raised its stake in Starbucks by 1.8% in the second quarter. Brown Lisle Cummings Inc. now owns 8,302 shares of the coffee company’s stock valued at $646,000 after buying an additional 150 shares during the last quarter. Finally, Manchester Financial Inc. raised its stake in Starbucks by 5.3% in the second quarter. Manchester Financial Inc. now owns 27,482 shares of the coffee company’s stock valued at $2,139,000 after buying an additional 1,392 shares during the last quarter. Institutional investors own 72.29% of the company’s shares.

Starbucks stock down 0.1%

NASDAQ SBUX opened at $94.81 on Friday. The company has a market cap of $107.44 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.80 and a beta of 0.94. Starbucks Co. it has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a 50-day moving average price of $78.23 and a 200-day moving average price of $84.00.

Starbucks (NASDAQ:SBUX – Get Your Free Report ) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down 0.6% year over year. In the same quarter last year, the company posted earnings of $1.00 per share. On average, equities research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks announces dividend

The company 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 of this dividend is Friday, August 16. This represents an annualized dividend of $2.28 and a dividend yield of 2.40%. Starbucks’ payout ratio is 62.81%.

Insider activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $80.00, for a total transaction of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which can be accessed via this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $80.00, for a total value of $260,000.00. Following the transaction, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Insiders have sold a total of 10,540 shares of company stock worth $879,291 in the last 90 days. Insiders own 1.98% of the company’s shares.

Analysts on Wall Street are forecasting an increase

A number of analysts have recently commented on SBUX shares. Goldman Sachs Group began coverage on Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the company from $85.00 to $118.00 in a research note on Wednesday. TD Cowen raised Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $81.00 to $105.00 in a research note on Tuesday. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a research note on Tuesday. Finally, Bank of America lifted their price target on Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Twelve analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.79, according to MarketBeat.com.

Check out our latest research report on SBUX

About Starbucks

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, distributor and distributor of coffee worldwide. The company operates through three segments: North America, International and Channel Development. Its stores offer coffee and tea beverages, whole roasted beans and ground coffee, unique products and ready-to-drink beverages; and various food products such as pastries, breakfast sandwiches and lunch items.

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