Twin Capital Management Inc. Sells 51,200 Shares of Starbucks Co. (NASDAQ:SBUX)

Twin Capital Management Inc. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 32.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,630 shares of the coffee company’s stock after selling 51,200 shares during the quarter. Twin Capital Management Inc.’s holdings in Starbucks were worth $8,855,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Kavar Capital Partners LLC increased its stake in shares of Starbucks by 2.4% in the 2nd quarter. Kavar Capital Partners LLC now owns 63,026 shares of the coffee company’s stock worth $5,283,000 after acquiring an additional 1,484 shares in the last quarter. White Pine Investment CO increased its stake in shares of Starbucks by 1.7% in the 2nd quarter. White Pine Investment CO now owns 65,437 shares of the coffee company’s stock worth $5,486,000 after acquiring an additional 1,100 shares in the last quarter. Lyell Wealth Management LP increased its stake in shares of Starbucks by 2.6% in the 2nd quarter. Lyell Wealth Management LP now owns 12,868 shares of the coffee company’s stock worth $1,079,000 after acquiring an additional 325 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Starbucks by 57.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 506,639 shares of the coffee company’s stock worth $42,649,000 after acquiring an additional 185,658 shares in the last quarter. Finally, Close Asset Management Ltd increased its stake in shares of Starbucks by 13.3% in the 2nd quarter. Close Asset Management Ltd now owns 139,711 shares of the coffee company’s stock worth $11,711,000 after acquiring an additional 16,380 shares in the last quarter. Institutional investors own 72.54% of the company’s stock.

Shares of NASDAQ SBUX traded up $0.46 during trading on Thursday, reaching $95.38. 310,528 shares of the company traded hands, compared to its average volume of 7,953,828. The firm’s 50 day moving average price is $91.38. The stock has a market capitalization of $113.61 billion, a PE ratio of 39.42, a PEG ratio of 2.62 and a beta of 0.55. Starbucks Co. has a 52-week low of $52.30 and a 52-week high of $99.72.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The firm had revenue of $6.82 billion for the quarter, compared to the consensus estimate of $6.67 billion. Starbucks had a net margin of 13.63% and a negative return on equity of 125.91%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. On average, analysts forecast that Starbucks Co. will post 2.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend is Wednesday, August 7th. Starbucks’s payout ratio is presently 59.50%.

Several analysts recently commented on SBUX shares. OTR Global raised shares of Starbucks to a “positive” rating in a research report on Tuesday, July 16th. Jefferies Financial Group increased their price objective on shares of Starbucks from $96.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Robert W. Baird downgraded shares of Starbucks from an “outperform” rating to a “neutral” rating in a research report on Monday, July 29th. KeyCorp increased their price objective on shares of Starbucks from $84.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Citigroup started coverage on shares of Starbucks in a research report on Wednesday, June 26th. They set a “buy” rating and a $83.65 price objective on the stock. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $89.53.

In related news, CAO Jill Walker sold 6,492 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $76.12, for a total transaction of $759,144.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,801 shares of company stock worth $6,301,684. Insiders own 3.98% of the company’s stock.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

Further Reading: The Structure of a Futures Contract

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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