William Blair Investment Management LLC Cuts Position in Starbucks Co. (NASDAQ:SBUX)

William Blair Investment Management LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 19.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,085,258 shares of the coffee company’s stock after selling 260,182 shares during the period. William Blair Investment Management LLC owned approximately 0.09% of Starbucks worth $107,506,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SBUX. America First Investment Advisors LLC purchased a new stake in shares of Starbucks during the first quarter valued at approximately $25,000. Freedom Wealth Alliance LLC purchased a new stake in shares of Starbucks during the fourth quarter valued at approximately $26,000. Moser Wealth Advisors LLC purchased a new stake in shares of Starbucks during the second quarter valued at approximately $30,000. WFA of San Diego LLC purchased a new stake in shares of Starbucks during the second quarter valued at approximately $30,000. Finally, Solstein Capital LLC raised its stake in shares of Starbucks by 67.4% during the second quarter. Solstein Capital LLC now owns 318 shares of the coffee company’s stock valued at $32,000 after purchasing an additional 128 shares during the period. Hedge funds and other institutional investors own 70.13% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $103.92 on Tuesday. Starbucks Co. has a 1 year low of $89.21 and a 1 year high of $115.48. The company has a market cap of $119.03 billion, a price-to-earnings ratio of 29.13, a price-to-earnings-growth ratio of 1.56 and a beta of 0.98. The firm has a fifty day moving average of $96.09 and a 200-day moving average of $98.73.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, November 2nd. The coffee company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.09. Starbucks had a net margin of 11.47% and a negative return on equity of 48.79%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.29 billion. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 4.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Friday, November 10th will be issued a $0.57 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.28 annualized dividend and a yield of 2.19%. This is an increase from Starbucks’s previous quarterly dividend of $0.53. Starbucks’s dividend payout ratio is presently 63.69%.

Insider Buying and Selling

In related news, insider Michael Aaron Conway sold 6,500 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total value of $681,005.00. Following the completion of the sale, the insider now owns 72,822 shares of the company’s stock, valued at $7,629,560.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Starbucks news, CFO Rachel Ruggeri sold 504 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $105.66, for a total value of $53,252.64. Following the sale, the chief financial officer now directly owns 75,027 shares in the company, valued at $7,927,352.82. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michael Aaron Conway sold 6,500 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $104.77, for a total transaction of $681,005.00. Following the completion of the sale, the insider now owns 72,822 shares in the company, valued at $7,629,560.94. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of analyst reports. Stephens reiterated an “equal weight” rating and set a $110.00 price objective on shares of Starbucks in a research note on Wednesday, August 2nd. Barclays dropped their price target on shares of Starbucks from $123.00 to $116.00 and set an “overweight” rating for the company in a research note on Monday, October 23rd. UBS Group dropped their price target on shares of Starbucks from $110.00 to $100.00 and set a “neutral” rating for the company in a research note on Thursday, October 12th. Stifel Nicolaus dropped their price target on shares of Starbucks from $117.00 to $110.00 and set a “hold” rating for the company in a research note on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Starbucks in a research note on Thursday, October 19th. They issued a “buy” rating and a $118.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.52.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.