Gulf International Bank UK Ltd Sells 3,799 Shares of Starbucks Co. (NASDAQ:SBUX)

Gulf International Bank UK Ltd trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 90,628 shares of the coffee company’s stock after selling 3,799 shares during the period. Gulf International Bank UK Ltd’s holdings in Starbucks were worth $8,835,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBUX. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. BMO Capital Markets lifted 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. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.32.

Insider Activity

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased 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 of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $97.03 on Tuesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a 50-day moving average of $96.00 and a two-hundred day moving average of $85.53. The stock has a market cap of $109.95 billion, a P/E ratio of 29.31, a PEG ratio of 3.17 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the company posted $1.06 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts expect that Starbucks Co. will post 3.22 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. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date 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 dividend yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is 68.88%.

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.