Commonwealth of Pennsylvania Public School Empls Retrmt SYS Reduces Holdings in Starbucks Co. (NASDAQ:SBUX)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 248,551 shares of the coffee company’s stock after selling 1,664 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Starbucks were worth $22,715,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. First National Trust Co grew its stake in Starbucks by 2.2% in the 4th quarter. First National Trust Co now owns 5,033 shares of the coffee company’s stock valued at $483,000 after buying an additional 106 shares during the last quarter. Quent Capital LLC lifted its stake in Starbucks by 2.8% during the fourth quarter. Quent Capital LLC now owns 4,004 shares of the coffee company’s stock worth $384,000 after purchasing an additional 108 shares during the last quarter. Graybill Wealth Management LTD. boosted its stake in shares of Starbucks by 0.3% in the 4th quarter. Graybill Wealth Management LTD. now owns 40,088 shares of the coffee company’s stock valued at $3,849,000 after purchasing an additional 109 shares in the last quarter. Omega Financial Group LLC increased its holdings in shares of Starbucks by 3.2% during the fourth quarter. Omega Financial Group LLC now owns 3,613 shares of the coffee company’s stock worth $347,000 after buying an additional 113 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc grew its holdings in shares of Starbucks by 10.0% during the fourth quarter. Glass Jacobson Investment Advisors llc now owns 1,246 shares of the coffee company’s stock worth $120,000 after purchasing an additional 113 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was 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 in the company, valued at approximately $6,264,320. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Starbucks news, 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 owns 78,304 shares in the company, valued at approximately $6,264,320. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the chief financial officer now owns 65,431 shares in the company, valued at $5,234,480. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,500 shares of company stock worth $601,375. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Guggenheim dropped their price target on shares of Starbucks from $100.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, April 19th. Jefferies Financial Group lowered their price objective on shares of Starbucks from $94.00 to $84.00 and set a “hold” rating on the stock in a research report on Wednesday, May 1st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Friday, April 19th. Bank of America raised their price objective on shares of Starbucks from $108.00 to $112.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, Wells Fargo & Company cut their price objective on Starbucks from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, May 1st. Seventeen analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.92.

Starbucks Stock Down 0.3 %

Shares of SBUX traded down $0.19 during mid-day trading on Wednesday, reaching $75.32. 6,589,415 shares of the stock traded hands, compared to its average volume of 10,376,031. The firm has a market cap of $85.31 billion, a price-to-earnings ratio of 20.79, a P/E/G ratio of 1.59 and a beta of 0.94. The stock has a fifty day simple moving average of $77.93 and a 200 day simple moving average of $86.16. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 30th. The coffee company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.11). Starbucks had a net margin of 11.38% and a negative return on equity of 49.91%. The company had revenue of $8.56 billion for the quarter, compared to analyst estimates of $9.12 billion. During the same quarter in the prior year, the firm earned $0.74 EPS. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.58 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a $0.57 dividend. The ex-dividend date is Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 3.03%. Starbucks’s dividend payout ratio (DPR) is presently 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.