Starbucks Co. (NASDAQ:SBUX) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,689,212 shares of the coffee company’s stock after selling 137,156 shares during the quarter. Starbucks comprises about 1.6% of Bahl & Gaynor Inc.’s investment portfolio, making the stock its 22nd biggest position. Bahl & Gaynor Inc.’s holdings in Starbucks were worth $258,191,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Herold Advisors Inc. boosted its holdings in shares of Starbucks by 6.2% during the fourth quarter. Herold Advisors Inc. now owns 2,572 shares of the coffee company’s stock worth $247,000 after purchasing an additional 150 shares during the last quarter. Evolution Advisers Inc. acquired a new stake in shares of Starbucks during the fourth quarter worth $36,000. New Jersey Better Educational Savings Trust acquired a new stake in shares of Starbucks during the fourth quarter worth $203,000. Van Cleef Asset Management Inc boosted its holdings in shares of Starbucks by 48.8% during the fourth quarter. Van Cleef Asset Management Inc now owns 15,470 shares of the coffee company’s stock worth $1,485,000 after purchasing an additional 5,075 shares during the last quarter. Finally, Syon Capital LLC boosted its holdings in shares of Starbucks by 25.8% during the fourth quarter. Syon Capital LLC now owns 10,503 shares of the coffee company’s stock worth $1,008,000 after purchasing an additional 2,156 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SBUX. Jefferies Financial Group reduced their target price on Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday, April 16th. Citigroup reduced their target price on Starbucks from $102.00 to $95.00 and set a “neutral” rating on the stock in a report on Friday, April 12th. Robert W. Baird reduced their target price on Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a report on Monday, March 18th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Finally, BTIG Research reduced their target price on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. Fourteen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and an average target price of $106.55.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $85.39, for a total transaction of $277,517.50. Following the completion of the sale, the chief executive officer now owns 81,199 shares in the company, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 7,250 shares of company stock worth $651,738. Insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.5 %

Shares of NASDAQ SBUX opened at $88.25 on Friday. The stock has a 50 day simple moving average of $90.36 and a 200-day simple moving average of $94.27. The company has a market cap of $99.92 billion, a PE ratio of 23.60, a P/E/G ratio of 1.48 and a beta of 0.97. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, January 31st. The coffee company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The firm had revenue of $9.43 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the firm earned $0.75 EPS. Starbucks’s revenue for the quarter was up 8.2% on a year-over-year basis. Sell-side analysts forecast that Starbucks Co. will post 3.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Friday, May 17th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Thursday, May 16th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.58%. Starbucks’s dividend payout ratio (DPR) is presently 60.96%.

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.