KRS Capital Management LLC Has $535,000 Stake in Starbucks Co. (NASDAQ:SBUX)

KRS Capital Management LLC trimmed its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 15.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,854 shares of the coffee company’s stock after selling 1,043 shares during the period. KRS Capital Management LLC’s holdings in Starbucks were worth $535,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SBUX. Norges Bank bought a new position in Starbucks in the fourth quarter valued at $1,240,652,000. Flossbach Von Storch AG grew its position in shares of Starbucks by 8,677.8% in the 4th quarter. Flossbach Von Storch AG now owns 2,715,405 shares of the coffee company’s stock valued at $260,706,000 after acquiring an additional 2,684,470 shares during the period. Bank of Nova Scotia grew its position in shares of Starbucks by 342.7% in the 4th quarter. Bank of Nova Scotia now owns 2,160,737 shares of the coffee company’s stock valued at $207,444,000 after acquiring an additional 1,672,656 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Starbucks by 432.5% in the 4th quarter. Los Angeles Capital Management LLC now owns 2,039,633 shares of the coffee company’s stock valued at $195,825,000 after acquiring an additional 1,656,591 shares during the period. Finally, Nordea Investment Management AB grew its position in shares of Starbucks by 44.8% in the 4th quarter. Nordea Investment Management AB now owns 5,146,033 shares of the coffee company’s stock valued at $493,350,000 after acquiring an additional 1,591,206 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 1.7 %

Shares of NASDAQ:SBUX traded down $1.39 during midday trading on Friday, hitting $77.85. The stock had a trading volume of 13,207,542 shares, compared to its average volume of 10,825,160. The company has a market capitalization of $88.18 billion, a P/E ratio of 21.45, a price-to-earnings-growth ratio of 1.73 and a beta of 0.96. The company’s 50-day moving average price is $79.66 and its 200-day moving average price is $88.09. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.11). The company had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period last year, the firm posted $0.74 earnings per share. Research analysts expect that Starbucks Co. will post 3.59 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 sale, the chief executive officer now directly owns 78,304 shares of the company’s stock, valued at approximately $6,264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total value of $300,000.00. Following the sale, the chief financial officer now directly owns 65,431 shares of the company’s stock, valued at approximately $5,234,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 78,304 shares in the company, valued at $6,264,320. The disclosure for this sale can be found here. Insiders have sold 10,750 shares of company stock valued at $878,893 in the last ninety days. 1.98% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. HSBC decreased their price objective on shares of Starbucks from $107.00 to $84.00 and set a “hold” rating for the company in a research report on Friday, May 3rd. Robert W. Baird decreased their price objective on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating for the company in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft cut shares of Starbucks from a “buy” rating to a “hold” rating and cut their target price for the stock from $108.00 to $89.00 in a research note on Wednesday, May 1st. UBS Group cut their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Finally, Wedbush restated a “neutral” rating and set a $81.00 target price on shares of Starbucks in a research note on Friday. Seventeen research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Hold” and an average price target of $94.54.

Starbucks Company 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.