TIAA Trust National Association Sells 4,402 Shares of Starbucks Co. (NASDAQ:SBUX)

TIAA Trust National Association lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 64,250 shares of the coffee company’s stock after selling 4,402 shares during the period. TIAA Trust National Association’s holdings in Starbucks were worth $5,872,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after acquiring an additional 470,498 shares during the last quarter. Spirepoint Private Client LLC acquired a new stake in shares of Starbucks during the first quarter worth $371,000. Intech Investment Management LLC increased its position in shares of Starbucks by 189.6% during the first quarter. Intech Investment Management LLC now owns 961,887 shares of the coffee company’s stock worth $87,907,000 after buying an additional 629,733 shares during the period. Poehling Capital Management INC. acquired a new stake in shares of Starbucks during the first quarter worth $1,612,000. Finally, Banco Santander S.A. increased its position in shares of Starbucks by 34.0% during the first quarter. Banco Santander S.A. now owns 78,526 shares of the coffee company’s stock worth $7,176,000 after buying an additional 19,920 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBUX shares. BTIG Research decreased their price objective on shares of Starbucks from $115.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 1st. TD Cowen reduced their price target on shares of Starbucks from $85.00 to $81.00 and set a “hold” rating for the company in a report on Wednesday. The Goldman Sachs Group started coverage on shares of Starbucks in a report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price target for the company. UBS Group reduced their price target on shares of Starbucks from $95.00 to $85.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Finally, Piper Sandler reduced their price target on shares of Starbucks from $88.00 to $85.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Seventeen investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $92.75.

Starbucks Trading Up 6.8 %

Shares of SBUX traded up $5.08 during trading hours on Friday, reaching $79.27. 32,965,919 shares of the stock traded hands, compared to its average volume of 10,732,179. The stock has a fifty day simple moving average of $77.99 and a 200 day simple moving average of $85.83. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company has a market cap of $89.79 billion, a price-to-earnings ratio of 21.84, a PEG ratio of 1.80 and a beta of 0.94.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, April 30th. The coffee company reported $0.68 earnings per share 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 firm had revenue of $8.56 billion for the quarter, compared to the consensus estimate of $9.12 billion. During the same period in the previous year, the business earned $0.74 earnings per share. The firm’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts predict that Starbucks Co. will post 3.57 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Friday, August 16th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend is Friday, August 16th. Starbucks’s payout ratio is currently 62.81%.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $80.00, for a total value of $260,000.00. Following the sale, the chief executive officer now owns 78,304 shares of the company’s stock, valued at $6,264,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 3,750 shares of Starbucks stock in a transaction dated Wednesday, May 22nd. The stock was 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 directly 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 7,500 shares of company stock valued at $601,375 over the last ninety days. Corporate insiders own 1.98% of the company’s stock.

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.