Financial Insights Inc. Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Financial Insights Inc. lowered its position in Starbucks Co. (NASDAQ:SBUX) by 4.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,142 shares of the coffee company’s stock after selling 607 shares during the period. Financial Insights Inc.’s holdings in Starbucks were worth $1,184,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. AdvisorNet Financial Inc grew its holdings in shares of Starbucks by 45.5% in the first quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock worth $185,000 after purchasing an additional 633 shares during the last quarter. Global Assets Advisory LLC bought a new position in shares of Starbucks in the first quarter worth about $3,219,000. Columbus Macro LLC grew its holdings in Starbucks by 17.2% during the 1st quarter. Columbus Macro LLC now owns 6,437 shares of the coffee company’s stock worth $588,000 after acquiring an additional 947 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Starbucks by 282.5% during the 1st quarter. Sound Income Strategies LLC now owns 9,520 shares of the coffee company’s stock worth $870,000 after acquiring an additional 7,031 shares in the last quarter. Finally, Brookstone Capital Management grew its holdings in Starbucks by 18.7% during the 1st quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock worth $2,042,000 after acquiring an additional 3,516 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SBUX has been the topic of several recent research reports. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Bank of America dropped their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday. Citigroup increased their target price on shares of Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Two 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.40.

Starbucks Stock Up 0.4 %

Shares of Starbucks stock opened at $96.82 on Wednesday. The firm has a market capitalization of $109.67 billion, a P/E ratio of 26.67, a PEG ratio of 2.14 and a beta of 0.97. The company has a 50 day moving average price of $95.31 and a 200 day moving average price of $84.80. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period last year, the firm posted $1.00 EPS. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.52%. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

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.