Starbucks Co. (NASDAQ:SBUX) Shares Sold by Reik & CO. LLC

Reik & CO. LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,946 shares of the coffee company’s stock after selling 1,857 shares during the quarter. Starbucks makes up approximately 1.1% of Reik & CO. LLC’s investment portfolio, making the stock its 12th largest position. Reik & CO. LLC’s holdings in Starbucks were worth $4,577,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the second quarter worth approximately $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the second quarter worth approximately $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% during the second 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 purchased a new stake in shares of Starbucks during the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Starbucks during the second quarter worth approximately $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the 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 sale, the chief executive officer now 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 Securities & Exchange Commission, which is available at this link. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated 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 approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SBUX. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Wednesday, October 23rd. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Trading Up 0.0 %

SBUX opened at $96.12 on Friday. The stock’s 50-day moving average price is $95.99 and its 200 day moving average price is $85.67. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market cap of $108.92 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 2.81 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.06 EPS. On average, research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.54%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

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.