Investors Research Corp Has $1.49 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Investors Research Corp decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 17.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 15,323 shares of the coffee company’s stock after selling 3,275 shares during the period. Investors Research Corp’s holdings in Starbucks were worth $1,494,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Legal & General Group Plc boosted its position in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares during the period. Swiss National Bank lifted its stake in Starbucks by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after acquiring an additional 9,900 shares in the last quarter. Marshall Wace LLP lifted its position in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its stake in shares of Starbucks by 3.9% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,255,967 shares of the coffee company’s stock worth $317,424,000 after buying an additional 122,886 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of SBUX stock traded up $0.61 during mid-day trading on Thursday, hitting $98.87. The company had a trading volume of 988,029 shares, compared to its average volume of 11,058,177. The company has a market capitalization of $112.04 billion, a P/E ratio of 29.69, a P/E/G ratio of 2.85 and a beta of 0.97. The stock’s 50 day moving average price is $97.01 and its 200-day moving average price is $86.70. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $104.68.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS. On average, equities research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 73.72%.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The stock was 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 in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SBUX. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. BMO Capital Markets raised their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. UBS Group boosted their target price 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. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average price target of $102.81.

Starbucks 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.