Wrapmanager Inc. Sells 521 Shares of Starbucks Co. (NASDAQ:SBUX)

Wrapmanager Inc. decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 12.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 3,644 shares of the coffee company’s stock after selling 521 shares during the period. Wrapmanager Inc.’s holdings in Starbucks were worth $355,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC acquired a new position in Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC increased its holdings in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the second quarter worth about $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Starbucks during the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SBUX. Royal Bank of Canada initiated coverage on Starbucks in a research note on Friday, November 15th. They set an “outperform” rating and a $115.00 target price for the company. Bank of America dropped their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Citigroup boosted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Starbucks Trading Down 2.0 %

SBUX opened at $98.35 on Wednesday. The stock’s fifty day simple moving average is $97.01 and its 200 day simple moving average is $86.62. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $105.47. The stock has a market cap of $111.45 billion, a PE ratio of 29.71, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the company posted $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current 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 dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.