Westwood Holdings Group Inc. Sells 82,532 Shares of Starbucks Co. (NASDAQ:SBUX)

Westwood Holdings Group Inc. reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 27.0% in the first quarter, Holdings Channel reports. The firm owned 222,692 shares of the coffee company’s stock after selling 82,532 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Starbucks were worth $20,352,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vima LLC bought a new stake in shares of Starbucks in the fourth quarter worth approximately $26,000. Scarborough Advisors LLC bought a new stake in Starbucks during the fourth quarter valued at approximately $26,000. DSM Capital Partners LLC bought a new stake in Starbucks during the fourth quarter valued at approximately $27,000. Fairman Group LLC bought a new stake in Starbucks during the fourth quarter valued at approximately $30,000. Finally, Cypress Capital Management LLC WY grew its position in Starbucks by 133.1% during the fourth quarter. Cypress Capital Management LLC WY now owns 324 shares of the coffee company’s stock valued at $31,000 after buying an additional 185 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of SBUX stock traded up $0.77 during mid-day trading on Friday, hitting $75.88. The company had a trading volume of 15,185,688 shares, compared to its average volume of 13,858,536. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock’s 50 day moving average price is $77.62 and its 200-day moving average price is $84.66. The company has a market capitalization of $85.99 billion, a P/E ratio of 20.90, a P/E/G ratio of 1.74 and a beta of 0.94.

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 analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.00 earnings per share. On average, equities research analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be paid a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Friday, August 16th. Starbucks’s payout ratio is 62.81%.

Insider Activity at Starbucks

In related 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 transaction of $300,000.00. Following the sale, 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 SEC, which is available through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’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 transaction, the chief executive officer now owns 78,304 shares in the company, valued at $6,264,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now owns 65,431 shares in the company, valued at approximately $5,234,480. The disclosure for this sale can be found here. Insiders have sold a total of 7,250 shares of company stock valued at $579,375 over the last 90 days. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on SBUX shares. TD Cowen cut their target price on shares of Starbucks from $85.00 to $81.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. cut their target price on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, July 10th. DZ Bank lowered shares of Starbucks from a “buy” rating to a “hold” rating and set a $75.00 target price for the company. in a research report on Friday, May 3rd. Guggenheim cut their target price 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. Finally, UBS Group lowered their price target 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. Seventeen research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $90.88.

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.