Inscription Capital LLC Sells 1,605 Shares of Starbucks Co. (NASDAQ:SBUX)

Inscription Capital LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,072 shares of the coffee company’s stock after selling 1,605 shares during the quarter. Inscription Capital LLC’s holdings in Starbucks were worth $1,372,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Ontario Teachers Pension Plan Board purchased a new stake in shares of Starbucks during the 1st quarter valued at $415,167,000. Marshall Wace LLP lifted its holdings in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Starbucks during the 2nd quarter valued at $243,910,000. Flossbach Von Storch AG lifted its holdings in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors purchased a new stake in shares of Starbucks during the 1st quarter valued at $257,721,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.3 %

NASDAQ:SBUX traded up $1.22 during trading hours on Monday, hitting $98.53. 580,234 shares of the stock were exchanged, compared to its average volume of 11,313,420. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm’s fifty day moving average price is $95.48 and its 200 day moving average price is $85.03. The company has a market cap of $111.65 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.59 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 the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.00 EPS. Equities analysts expect that Starbucks Co. will post 3.34 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. 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 dividend on an annualized basis and a dividend yield of 2.48%. Starbucks’s dividend payout ratio is 63.87%.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were 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 owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Wednesday, October 23rd. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Wedbush restated a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research note on Tuesday, August 13th. Morgan Stanley raised 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. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.48.

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.