Donald L. Hagan LLC Sells 978 Shares of Starbucks Co. (NASDAQ:SBUX)

Donald L. Hagan LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 7.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,202 shares of the coffee company’s stock after selling 978 shares during the period. Donald L. Hagan LLC’s holdings in Starbucks were worth $1,190,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction 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 of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred 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 completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $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 owned by insiders.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded down $0.84 during midday trading on Wednesday, hitting $96.25. 1,288,609 shares of the company’s stock were exchanged, compared to its average volume of 11,218,548. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market cap of $109.07 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.81 and a beta of 0.97. The stock has a 50 day moving average price of $95.97 and a 200-day moving average price of $85.60.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 earnings per share. On average, analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company 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 is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.54%. Starbucks’s dividend payout ratio is presently 68.88%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Wedbush decreased their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Two equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

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.