Varma Mutual Pension Insurance Co Sells 13,390 Shares of Starbucks Co. (NASDAQ:SBUX)

Varma Mutual Pension Insurance Co decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 230,410 shares of the coffee company’s stock after selling 13,390 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Starbucks were worth $17,937,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SBUX. Vanguard Group Inc. increased its stake in 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 buying an additional 470,498 shares during the last quarter. Norges Bank purchased a new stake in Starbucks in the 4th quarter valued at about $1,240,652,000. Fisher Asset Management LLC increased its stake in Starbucks by 2.3% in the 4th quarter. Fisher Asset Management LLC now owns 11,359,790 shares of the coffee company’s stock valued at $1,090,654,000 after buying an additional 260,489 shares during the last quarter. Flossbach Von Storch AG increased its stake in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in Starbucks by 3.1% in the 4th quarter. Franklin Resources Inc. now owns 5,511,378 shares of the coffee company’s stock valued at $529,147,000 after buying an additional 166,010 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $91.15 on Monday. The firm has a fifty day moving average price of $82.41 and a two-hundred day moving average price of $83.80. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a market cap of $103.29 billion, a price-to-earnings ratio of 25.11, a PEG ratio of 2.18 and a beta of 0.96.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the previous year, the firm posted $1.00 EPS. The firm’s revenue was down .6% compared to the same quarter last year. Equities research analysts expect that Starbucks Co. will post 3.56 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend was Friday, August 16th. Starbucks’s dividend payout ratio is currently 62.81%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SBUX shares. The Goldman Sachs Group started coverage on shares of Starbucks in a research note on Thursday, June 13th. They set a “buy” rating and a $100.00 price target for the company. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Jefferies Financial Group decreased their price target on shares of Starbucks from $84.00 to $80.00 and set a “hold” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on shares of Starbucks from $92.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, July 10th. Finally, Bank of America raised their price target on shares of Starbucks from $108.00 to $112.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $99.42.

Insider Transactions at Starbucks

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

Starbucks 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.