KCM Investment Advisors LLC Decreases Stake in Starbucks Corporation $SBUX

KCM Investment Advisors LLC lessened its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 97,763 shares of the coffee company’s stock after selling 6,227 shares during the quarter. KCM Investment Advisors LLC’s holdings in Starbucks were worth $8,759,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Norges Bank acquired a new position in Starbucks during the fourth quarter worth about $1,232,650,000. T. Rowe Price Investment Management Inc. raised its holdings in Starbucks by 65.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 19,447,854 shares of the coffee company’s stock valued at $1,637,704,000 after acquiring an additional 7,725,547 shares during the last quarter. Capital World Investors raised its holdings in Starbucks by 9.0% in the 4th quarter. Capital World Investors now owns 84,727,405 shares of the coffee company’s stock valued at $7,135,228,000 after acquiring an additional 7,007,268 shares during the last quarter. Corient Private Wealth LLC lifted its stake in Starbucks by 146.6% in the 2nd quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock worth $553,201,000 after purchasing an additional 3,596,014 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Starbucks by 57.1% during the 4th quarter. Amundi now owns 4,532,627 shares of the coffee company’s stock worth $381,693,000 after purchasing an additional 1,647,292 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $103.65 on Tuesday. The company has a 50 day simple moving average of $102.27 and a 200-day simple moving average of $98.69. The company has a market capitalization of $118.13 billion, a P/E ratio of 78.52, a P/E/G ratio of 2.05 and a beta of 0.98. Starbucks Corporation has a 1 year low of $77.99 and a 1 year high of $109.23.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, April 28th. The coffee company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $9.53 billion for the quarter, compared to analysts’ expectations of $9.17 billion. Starbucks had a negative return on equity of 29.24% and a net margin of 3.89%.The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share. As a group, research analysts expect that Starbucks Corporation will post 2.41 EPS for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend is Friday, August 14th. Starbucks’s dividend payout ratio is 187.88%.

Insiders Place Their Bets

In related news, EVP Sara Kelly sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $105.00, for a total transaction of $210,000.00. Following the completion of the sale, the executive vice president directly owned 57,653 shares of the company’s stock, valued at approximately $6,053,565. This trade represents a 3.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Brady Brewer sold 2,229 shares of the company’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $104.00, for a total transaction of $231,816.00. Following the completion of the transaction, the chief executive officer directly owned 77,364 shares in the company, valued at $8,045,856. The trade was a 2.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 8,687 shares of company stock valued at $889,033. Company insiders own 0.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SBUX. Zacks Research lowered Starbucks from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 29th. Stifel Nicolaus set a $117.00 price objective on Starbucks and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Citizens Jmp began coverage on Starbucks in a research note on Monday, March 30th. They set an “underperform” rating and a $84.00 price objective on the stock. Evercore upped their target price on Starbucks from $110.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Finally, BNP Paribas Exane began coverage on Starbucks in a research note on Thursday, May 14th. They issued an “underperform” rating for the company. Nineteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $109.42.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.