Valley National Advisers Inc. Decreases Holdings in Starbucks Co. (NASDAQ:SBUX)

Valley National Advisers Inc. lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 42.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,365 shares of the coffee company’s stock after selling 4,607 shares during the period. Valley National Advisers Inc.’s holdings in Starbucks were worth $620,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter worth approximately $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the 2nd quarter valued at about $26,000. Stephens Consulting LLC raised its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new stake in Starbucks during the second quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new stake in Starbucks during the 2nd quarter valued at approximately $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased 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. The trade was a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $97.31 on Monday. The company’s fifty day moving average price is $95.48 and its 200-day moving average price is $85.03. The firm has a market capitalization of $110.22 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.25 billion. During the same quarter in the prior year, the firm earned $1.00 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. As a group, equities research 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. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is currently 67.22%.

Wall Street Analyst Weigh In

SBUX has been the topic of several research reports. Citigroup lowered their price target on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Barclays lifted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. UBS Group upped their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Finally, BMO Capital Markets raised their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

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.