Victory Capital Management Inc. Has $99.63 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Victory Capital Management Inc. lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,021,899 shares of the coffee company’s stock after selling 72,607 shares during the period. Victory Capital Management Inc. owned approximately 0.09% of Starbucks worth $99,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Aptus Capital Advisors LLC raised its position in shares of Starbucks by 6.7% during the third quarter. Aptus Capital Advisors LLC now owns 13,185 shares of the coffee company’s stock worth $1,285,000 after purchasing an additional 833 shares during the period. Platform Technology Partners increased its stake in Starbucks by 12.0% during the 3rd quarter. Platform Technology Partners now owns 21,470 shares of the coffee company’s stock valued at $2,093,000 after purchasing an additional 2,296 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in Starbucks by 1.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,640,092 shares of the coffee company’s stock worth $257,383,000 after buying an additional 41,389 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Starbucks by 1.9% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 57,926 shares of the coffee company’s stock valued at $5,646,000 after buying an additional 1,106 shares in the last quarter. Finally, WealthPlan Investment Management LLC grew its holdings in shares of Starbucks by 26.2% during the third quarter. WealthPlan Investment Management LLC now owns 6,567 shares of the coffee company’s stock valued at $640,000 after buying an additional 1,365 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SBUX shares. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday. Finally, Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Three 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 issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.31.

Starbucks Trading Up 1.0 %

Starbucks stock opened at $99.80 on Thursday. The firm has a market capitalization of $113.09 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 2.86 and a beta of 0.97. The firm has a 50 day simple moving average of $96.30 and a 200 day simple moving average of $85.93. Starbucks Co. has a 1-year low of $71.55 and a 1-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 negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the business earned $1.06 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The company 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 $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.44%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is presently 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.