Boston Family Office LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Boston Family Office LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 23.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,646 shares of the coffee company’s stock after selling 2,047 shares during the quarter. Boston Family Office LLC’s holdings in Starbucks were worth $648,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the 2nd quarter valued at $26,000. Stephens Consulting LLC raised its position in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. UBS Group raised their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. BMO Capital Markets raised their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Finally, Stifel Nicolaus lifted their price objective 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, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus target price of $102.81.

Starbucks Stock Down 0.6 %

NASDAQ SBUX opened at $101.84 on Tuesday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The firm has a market capitalization of $115.47 billion, a PE ratio of 30.77, a P/E/G ratio of 3.00 and a beta of 0.97. The stock’s 50 day moving average is $97.22 and its 200 day moving average is $87.38.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.40%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is 73.72%.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost 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 $3,316,143. This trade represents a 1.06 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.