Starbucks Co. (NASDAQ:SBUX) Shares Sold by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. cut its position in Starbucks Co. (NASDAQ:SBUX) by 5.0% during the third quarter, Holdings Channel reports. The firm owned 104,986 shares of the coffee company’s stock after selling 5,570 shares during the period. Starbucks makes up approximately 0.9% of Weatherly Asset Management L. P.’s portfolio, making the stock its 24th largest position. Weatherly Asset Management L. P.’s holdings in Starbucks were worth $10,235,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the 2nd quarter worth approximately $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the 2nd 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 valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks in the second quarter worth $27,000. Finally, Olistico Wealth LLC purchased a new position in shares of Starbucks during the second quarter worth $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of SBUX stock opened at $98.87 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market capitalization of $112.04 billion, a P/E ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97. The stock’s fifty day moving average is $95.98 and its two-hundred day moving average is $85.47.

Starbucks (NASDAQ:SBUX) last posted 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 for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 earnings per share. On average, equities analysts forecast that Starbucks Co. will post 3.42 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently disclosed 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. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Wednesday, October 23rd. BMO Capital Markets upped their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Finally, Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Insiders Place Their Bets

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

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.