E. Ohman J or Asset Management AB Sells 3,400 Shares of Starbucks Co. (NASDAQ:SBUX)

E. Ohman J or Asset Management AB decreased its position in Starbucks Co. (NASDAQ:SBUX) by 6.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,600 shares of the coffee company’s stock after selling 3,400 shares during the quarter. E. Ohman J or Asset Management AB’s holdings in Starbucks were worth $4,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the second quarter valued at $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC grew its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Starbucks in the second quarter worth about $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Starbucks during the second quarter worth approximately $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of Starbucks stock opened at $97.15 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a market cap of $110.09 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The firm has a fifty day moving average price of $95.38 and a 200 day moving average price of $84.89.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the previous year, the firm posted $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is presently 63.87%.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, BTIG Research raised their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred 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 owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.