Ellis Investment Partners LLC Has $309,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Ellis Investment Partners LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,169 shares of the coffee company’s stock after selling 233 shares during the quarter. Ellis Investment Partners LLC’s holdings in Starbucks were worth $309,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC raised its stake in Starbucks by 498.2% in 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 in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the 2nd quarter worth about $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks in the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction 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 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 disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Citigroup decreased their target price on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a report on Wednesday, October 23rd. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Stock Up 0.2 %

SBUX opened at $97.31 on Monday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a fifty day moving average of $95.48 and a 200-day moving average of $85.03. The stock has a market cap of $110.22 billion, a PE ratio of 26.81, a price-to-earnings-growth 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 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the company posted $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. Sell-side analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The business 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. 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. This represents a $2.44 annualized dividend and a yield of 2.51%. Starbucks’s dividend payout ratio is currently 67.22%.

About Starbucks

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.