Soros Capital Management LLC Has $350,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Soros Capital Management LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 22.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,585 shares of the coffee company’s stock after selling 1,019 shares during the quarter. Soros Capital Management LLC’s holdings in Starbucks were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Quent Capital LLC lifted its stake in shares of Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after buying an additional 385 shares during the last quarter. New Covenant Trust Company N.A. bought a new position in Starbucks in the 1st quarter valued at about $78,000. Citizens Financial Group Inc. RI lifted its position in Starbucks by 20.4% during the first quarter. Citizens Financial Group Inc. RI now owns 16,468 shares of the coffee company’s stock worth $1,505,000 after acquiring an additional 2,787 shares during the last quarter. Strategic Wealth Partners Ltd. boosted its holdings in shares of Starbucks by 35.6% during the first quarter. Strategic Wealth Partners Ltd. now owns 65,900 shares of the coffee company’s stock worth $6,023,000 after acquiring an additional 17,302 shares during the period. Finally, LRI Investments LLC acquired a new position in shares of Starbucks in the first quarter valued at approximately $77,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks 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 transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, Barclays reduced their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Trading Down 1.1 %

Shares of SBUX stock opened at $100.68 on Wednesday. The business’s 50-day moving average price is $97.30 and its 200-day moving average price is $87.55. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The firm has a market capitalization of $114.15 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its 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 the consensus estimate of $9.60 billion. During the same period last year, the company earned $1.06 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

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.