Telos Capital Management Inc. Sells 47,825 Shares of Starbucks Co. (NASDAQ:SBUX)

Telos Capital Management Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 83.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 9,550 shares of the coffee company’s stock after selling 47,825 shares during the quarter. Telos Capital Management Inc.’s holdings in Starbucks were worth $743,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares during the period. Norges Bank bought a new stake in Starbucks during the 4th quarter worth approximately $1,240,652,000. Fisher Asset Management LLC grew its position in Starbucks by 2.3% during the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock worth $1,090,654,000 after acquiring an additional 260,489 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Starbucks by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 10,027,953 shares of the coffee company’s stock worth $948,093,000 after acquiring an additional 27,496 shares during the last quarter. Finally, Flossbach Von Storch AG grew its position in Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Activity at Starbucks

In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,790 shares of company stock valued at $865,514. 1.98% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently commented on SBUX. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 21st. BMO Capital Markets decreased their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $110.00 in a research report on Wednesday, August 14th. The Goldman Sachs Group started coverage on Starbucks in a research report on Thursday, June 13th. They issued a “buy” rating and a $100.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $99.21.

Starbucks Price Performance

Shares of SBUX traded down $0.29 during midday trading on Friday, hitting $94.57. The stock had a trading volume of 7,117,159 shares, compared to its average volume of 21,091,858. The company has a 50 day simple moving average of $81.06 and a two-hundred day simple moving average of $83.91. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market cap of $107.17 billion, a price-to-earnings ratio of 26.05, a price-to-earnings-growth ratio of 2.26 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 the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. Analysts forecast that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

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.