Starbucks Co. (NASDAQ:SBUX) Stock Holdings Lessened by Rogco LP

Rogco LP lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 36.5% during the third quarter, HoldingsChannel reports. The firm owned 9,394 shares of the coffee company’s stock after selling 5,399 shares during the period. Rogco LP’s holdings in Starbucks were worth $916,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Wedbush reiterated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Barclays raised their price target on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have assigned 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 stock presently has an average rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Stock Up 0.2 %

NASDAQ:SBUX traded up $0.23 during trading hours on Thursday, reaching $97.88. The company had a trading volume of 4,653,133 shares, compared to its average volume of 11,348,387. The stock has a 50-day moving average of $95.38 and a two-hundred day moving average of $84.89. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market capitalization of $110.92 billion, a PE ratio of 27.64, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted 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 for the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. The business’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 63.87%.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, 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 completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

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.