Unionview LLC Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Unionview LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 1.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,962 shares of the coffee company’s stock after selling 157 shares during the period. Starbucks makes up about 1.0% of Unionview LLC’s portfolio, making the stock its 23rd largest position. Unionview LLC’s holdings in Starbucks were worth $1,264,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SBUX. Vanguard Group Inc. raised its position in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Legal & General Group Plc increased its stake in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks in the first quarter worth $415,167,000. Van ECK Associates Corp lifted its stake in shares of Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares during the period. Finally, Marshall Wace LLP grew its holdings 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 valued at $260,870,000 after buying an additional 3,136,992 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.98% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on SBUX shares. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research report on Wednesday, August 21st. Citigroup increased their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wedbush decreased their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.31.

Starbucks Stock Performance

Shares of Starbucks stock opened at $99.46 on Thursday. The business’s 50 day moving average price is $96.45 and its 200 day moving average price is $86.03. The company has a market cap of $112.71 billion, a price-to-earnings ratio of 30.15, a PEG ratio of 2.86 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting 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 quarter in the previous year, the company posted $1.06 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. On average, analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. Starbucks’s dividend payout ratio is currently 68.88%.

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.