Sei Investments Co. Sells 160,002 Shares of Starbucks Co. (NASDAQ:SBUX)

Sei Investments Co. lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 28.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 407,499 shares of the coffee company’s stock after selling 160,002 shares during the quarter. Sei Investments Co.’s holdings in Starbucks were worth $37,244,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Scarborough Advisors LLC bought a new position in Starbucks in the fourth quarter valued at approximately $26,000. Vima LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $27,000. Fairman Group LLC acquired a new stake in shares of Starbucks in the fourth quarter valued at approximately $30,000. Finally, Cypress Capital Management LLC WY raised its holdings in shares of Starbucks by 133.1% in the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 185 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Friday, April 19th. Jefferies Financial Group lowered their target price on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on shares of Starbucks in a report on Thursday, June 13th. They set a “buy” rating and a $100.00 target price on the stock. UBS Group lowered their target price on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Wednesday, May 1st. Finally, Guggenheim reduced their price objective on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average price target of $93.75.

Starbucks Trading Down 2.8 %

NASDAQ SBUX traded down $2.08 during trading on Monday, hitting $72.75. 9,056,644 shares of the company’s stock were exchanged, compared to its average volume of 10,368,508. The company has a market cap of $82.40 billion, a PE ratio of 20.29, a P/E/G ratio of 1.64 and a beta of 0.94. Starbucks Co. has a fifty-two week low of $71.80 and a fifty-two week high of $107.66. The stock’s 50 day moving average price is $77.87 and its two-hundred day moving average price is $86.47.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, April 30th. The coffee company reported $0.68 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.11). The business had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. Starbucks had a negative return on equity of 49.91% and a net margin of 11.38%. The firm’s revenue was down 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.74 EPS. Analysts forecast that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be paid a $0.57 dividend. This represents a $2.28 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Insider Activity

In other news, CFO Rachel Ruggeri sold 3,750 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $80.00, for a total value of $300,000.00. Following the completion of the transaction, the chief financial officer now owns 65,431 shares of the company’s stock, valued at $5,234,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the sale, the chief executive officer now 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 accessible through the SEC website. Also, CFO Rachel Ruggeri sold 3,750 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $80.00, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 7,500 shares of company stock valued at $601,375 over the last quarter. 1.98% of the stock is owned by company insiders.

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.