Cable Hill Partners LLC Sells 497 Shares of Starbucks Co. (NASDAQ:SBUX)

Cable Hill Partners LLC reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,138 shares of the coffee company’s stock after selling 497 shares during the quarter. Cable Hill Partners LLC’s holdings in Starbucks were worth $1,086,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quent Capital LLC boosted its holdings in shares of Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after acquiring an additional 385 shares in the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Starbucks by 11.3% during the first quarter. HBK Sorce Advisory LLC now owns 9,507 shares of the coffee company’s stock valued at $869,000 after acquiring an additional 967 shares in the last quarter. Leo Wealth LLC raised its holdings in Starbucks by 11.2% during the first quarter. Leo Wealth LLC now owns 2,815 shares of the coffee company’s stock worth $257,000 after buying an additional 283 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of Starbucks by 8.7% in the first quarter. Brighton Jones LLC now owns 148,302 shares of the coffee company’s stock valued at $13,553,000 after purchasing an additional 11,903 shares in the last quarter. Finally, Cumberland Partners Ltd lifted its position in shares of Starbucks by 389.5% during the first quarter. Cumberland Partners Ltd now owns 68,703 shares of the coffee company’s stock valued at $6,279,000 after purchasing an additional 54,668 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $99.80 on Thursday. The business has a 50 day simple moving average of $96.30 and a 200-day simple moving average of $85.93. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $113.09 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.06 earnings per share. On average, equities research analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal 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 paid a $0.61 dividend. 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 2.44%. Starbucks’s dividend payout ratio is 68.88%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent research reports. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. UBS Group boosted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. TD Cowen reissued a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday. Finally, Stifel Nicolaus lifted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $102.31.

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.