Windward Capital Management Co. CA Sells 94,631 Shares of Starbucks Co. (NASDAQ:SBUX)

Windward Capital Management Co. CA lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 96.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 3,907 shares of the coffee company’s stock after selling 94,631 shares during the period. Windward Capital Management Co. CA’s holdings in Starbucks were worth $304,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in Starbucks in the 4th quarter valued at about $1,240,652,000. Ontario Teachers Pension Plan Board acquired a new stake in shares of Starbucks in the first quarter valued at approximately $415,167,000. Flossbach Von Storch AG raised its position in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. Capital World Investors bought a new position in Starbucks in the 1st quarter worth approximately $257,721,000. Finally, Van ECK Associates Corp lifted its holdings in Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, 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 Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The disclosure for this sale can be found here. Insiders have sold 9,790 shares of company stock worth $865,514 over the last ninety days. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SBUX. JPMorgan Chase & Co. dropped their target price on Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Bank of America lifted their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Wedbush restated a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $99.42.

Starbucks Stock Down 0.4 %

Shares of NASDAQ:SBUX opened at $91.15 on Friday. The firm has a market cap of $103.29 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.21 and a beta of 0.96. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company’s fifty day simple moving average is $82.41 and its 200 day simple moving average is $83.88.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for 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 revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. Research analysts expect that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.50%. Starbucks’s dividend payout ratio is currently 62.81%.

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.