Aviva PLC Sells 162,707 Shares of Starbucks Co. (NASDAQ:SBUX)

Aviva PLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 19.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 682,602 shares of the coffee company’s stock after selling 162,707 shares during the quarter. Aviva PLC owned approximately 0.06% of Starbucks worth $62,287,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new position in Starbucks during the fourth quarter valued at $29,598,000. Pioneer Trust Bank N A OR boosted its holdings in shares of Starbucks by 0.8% during the 4th quarter. Pioneer Trust Bank N A OR now owns 11,312 shares of the coffee company’s stock valued at $1,032,000 after purchasing an additional 92 shares during the last quarter. Leeward Financial Partners LLC boosted its holdings in shares of Starbucks by 4.1% during the 4th quarter. Leeward Financial Partners LLC now owns 10,077 shares of the coffee company’s stock valued at $920,000 after purchasing an additional 393 shares during the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of Starbucks during the fourth quarter valued at about $374,000. Finally, Bornite Capital Management LP bought a new stake in shares of Starbucks in the fourth quarter worth about $13,688,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of Starbucks stock opened at $82.10 on Friday. The stock has a market cap of $93.26 billion, a price-to-earnings ratio of 26.48, a PEG ratio of 3.59 and a beta of 1.00. The firm’s 50-day moving average is $105.32 and its two-hundred day moving average is $99.38. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, January 28th. The coffee company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a net margin of 9.73% and a negative return on equity of 44.97%. During the same quarter in the prior year, the firm earned $0.90 EPS. On average, equities analysts expect that Starbucks Co. will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend is Friday, May 16th. Starbucks’s payout ratio is 78.71%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Stifel Nicolaus raised their price target on Starbucks from $110.00 to $114.00 and gave the company a “buy” rating in a report on Monday, January 27th. Wedbush upped their price objective on Starbucks from $95.00 to $100.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Argus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a research report on Tuesday, March 18th. UBS Group raised their target price on shares of Starbucks from $98.00 to $105.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $115.00 price target on shares of Starbucks in a report on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $106.12.

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.