Starbucks Co. (NASDAQ:SBUX) Shares Sold by Proficio Capital Partners LLC

Proficio Capital Partners LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,933 shares of the coffee company’s stock after selling 1,349 shares during the period. Proficio Capital Partners LLC’s holdings in Starbucks were worth $676,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the second quarter valued at approximately $25,000. New Millennium Group LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $26,000. Stephens Consulting LLC raised its holdings in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

NASDAQ SBUX opened at $97.55 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a market cap of $110.54 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 2.78 and a beta of 0.97. The firm’s 50 day moving average price is $96.07 and its two-hundred day moving average price is $85.81.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the company posted $1.06 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts forecast that Starbucks Co. will post 3.15 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 issued a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is currently 68.88%.

Insider Activity

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, 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 SEC, which can be accessed through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 completion of the sale, 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 position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SBUX shares. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Barclays dropped their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wedbush dropped their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $103.32.

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.