Starbucks Co. (NASDAQ:SBUX) Shares Sold by Brown Shipley& Co Ltd

Brown Shipley& Co Ltd lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 37.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,092 shares of the coffee company’s stock after selling 1,250 shares during the quarter. Brown Shipley& Co Ltd’s holdings in Starbucks were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the second quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in shares of Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC lifted its stake in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks in the second quarter valued at $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks in the second quarter valued at $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.8 %

Shares of NASDAQ SBUX opened at $101.51 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The business has a 50 day moving average price of $97.41 and a two-hundred day moving average price of $87.65. The firm has a market cap of $115.09 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the firm earned $1.06 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. On average, analysts anticipate that Starbucks Co. will post 3.12 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. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.40%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SBUX. BTIG Research raised their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a report on Monday, November 11th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Bank of America dropped their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

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.