Hoertkorn Richard Charles Has $112,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Hoertkorn Richard Charles reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 70.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 1,150 shares of the coffee company’s stock after selling 2,800 shares during the quarter. Hoertkorn Richard Charles’ holdings in Starbucks were worth $112,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of SBUX. Fidelis Capital Partners LLC grew its holdings in Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the period. AMI Asset Management Corp lifted its position in Starbucks by 2.8% during the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after purchasing an additional 10,092 shares during the period. LRI Investments LLC bought a new stake in Starbucks during the first quarter worth about $136,000. BNP Paribas bought a new position in shares of Starbucks in the first quarter worth about $9,332,000. Finally, Great Valley Advisor Group Inc. lifted its holdings in shares of Starbucks by 45.8% in the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after acquiring an additional 5,377 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBUX. BMO Capital Markets raised their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Citigroup reduced their price objective on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Wednesday. Finally, Morgan Stanley lifted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Two 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’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Stock Up 0.9 %

Shares of NASDAQ:SBUX opened at $97.65 on Thursday. The business has a 50 day moving average price of $95.38 and a 200 day moving average price of $84.89. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market cap of $110.61 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the company earned $1.00 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts anticipate that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 2.50%. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by 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.