Pegasus Partners Ltd. Has $1.19 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Pegasus Partners Ltd. decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 30.1% in the third quarter, Holdings Channel reports. The firm owned 12,242 shares of the coffee company’s stock after selling 5,278 shares during the quarter. Pegasus Partners Ltd.’s holdings in Starbucks were worth $1,193,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% in the 2nd 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 acquired a new position in shares of Starbucks in the 2nd quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Starbucks during the 2nd quarter valued at $31,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of Starbucks stock opened at $97.55 on Friday. The firm has a market cap of $110.54 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock’s 50-day moving average is $96.07 and its 200-day moving average is $85.81.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 EPS. On average, equities analysts expect that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.50%. Starbucks’s dividend payout ratio is 68.88%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SBUX shares. BMO Capital Markets upped their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Stifel Nicolaus boosted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Insider Buying and Selling at Starbucks

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

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.