Starbucks Co. (NASDAQ:SBUX) Shares Sold by abrdn plc

abrdn plc lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 13.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 465,476 shares of the coffee company’s stock after selling 73,494 shares during the quarter. abrdn plc’s holdings in Starbucks were worth $42,279,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Czech National Bank raised its stake in Starbucks by 6.9% during the 3rd quarter. Czech National Bank now owns 230,845 shares of the coffee company’s stock valued at $22,505,000 after acquiring an additional 14,999 shares in the last quarter. Versant Capital Management Inc raised its stake in Starbucks by 34.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,979 shares of the coffee company’s stock valued at $193,000 after acquiring an additional 504 shares in the last quarter. Axiom Advisory LLC raised its stake in Starbucks by 2.0% during the 3rd quarter. Axiom Advisory LLC now owns 7,573 shares of the coffee company’s stock valued at $738,000 after acquiring an additional 150 shares in the last quarter. Atomi Financial Group Inc. raised its stake in Starbucks by 27.7% during the 3rd quarter. Atomi Financial Group Inc. now owns 13,120 shares of the coffee company’s stock valued at $1,279,000 after acquiring an additional 2,843 shares in the last quarter. Finally, O Keefe Stevens Advisory Inc. raised its stake in Starbucks by 51.5% during the 3rd quarter. O Keefe Stevens Advisory Inc. now owns 5,235 shares of the coffee company’s stock valued at $510,000 after acquiring an additional 1,780 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. BTIG Research lifted their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Morgan Stanley boosted 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. Wells Fargo & Company boosted their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Stifel Nicolaus boosted their price objective on Starbucks from $110.00 to $114.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Redburn Atlantic reissued a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $105.33.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was 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 in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $112.25 on Thursday. The business’s 50-day moving average price is $96.51 and its two-hundred day moving average price is $94.07. Starbucks Co. has a one year low of $71.55 and a one year high of $112.42. The company has a market capitalization of $127.50 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 3.40 and a beta of 1.00.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, January 28th. The coffee company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Starbucks had a negative return on equity of 44.97% and a net margin of 9.73%. During the same period in the prior year, the company earned $0.90 EPS. On average, equities analysts anticipate that Starbucks Co. will post 3 EPS for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a $0.61 dividend. The ex-dividend date is Friday, February 14th. This represents a $2.44 dividend on an annualized basis and a yield of 2.17%. Starbucks’s dividend payout ratio (DPR) is currently 78.71%.

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.