Strategic Capital Advisers Inc. reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 13.2% in the 3rd quarter, Holdings Channel reports. The firm owned 33,697 shares of the coffee company’s stock after selling 5,125 shares during the period. Starbucks accounts for approximately 3.3% of Strategic Capital Advisers Inc.’s holdings, making the stock its 5th biggest position. Strategic Capital Advisers Inc.’s holdings in Starbucks were worth $2,979,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Enterprise Trust & Investment Co acquired a new position in shares of Starbucks in the second quarter valued at $25,000. 1 North Wealth Services LLC bought a new stake in Starbucks in the third quarter valued at $30,000. Northern Oak Wealth Management Inc. grew its position in Starbucks by 95.7% in the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after acquiring an additional 177 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in Starbucks in the second quarter valued at $32,000. Finally, Atlas Capital Advisors LLC grew its position in Starbucks by 53.3% in the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock valued at $35,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 70.68% of the company’s stock.
In other Starbucks news, Director Myron E. Ullman III sold 9,973 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $84.79, for a total value of $845,610.67. Following the transaction, the director now owns 28,407 shares of the company’s stock, valued at $2,408,629.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Javier G. Teruel sold 59,838 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,885 shares of company stock worth $10,707,543. 3.98% of the stock is owned by company insiders.
Starbucks stock traded up $0.65 during mid-day trading on Monday, hitting $82.42. The stock had a trading volume of 292,093 shares, compared to its average volume of 8,267,584. The stock has a 50-day simple moving average of $85.72 and a two-hundred day simple moving average of $86.55. The stock has a market capitalization of $98.02 billion, a PE ratio of 29.12, a P/E/G ratio of 2.03 and a beta of 0.53. Starbucks Co. has a 12 month low of $60.42 and a 12 month high of $99.72.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. The business had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. The firm’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.62 earnings per share. Research analysts forecast that Starbucks Co. will post 3.05 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, November 13th will be issued a $0.41 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, November 12th. This represents a $1.64 annualized dividend and a yield of 1.99%. Starbucks’s dividend payout ratio (DPR) is currently 50.88%.
A number of analysts have weighed in on SBUX shares. Robert W. Baird reiterated a “hold” rating on shares of Starbucks in a research report on Wednesday, September 4th. BidaskClub cut Starbucks from a “hold” rating to a “sell” rating in a report on Saturday, October 26th. JPMorgan Chase & Co. cut Starbucks from an “overweight” rating to a “neutral” rating in a report on Monday, July 29th. Cowen set a $93.00 target price on Starbucks and gave the stock a “hold” rating in a report on Monday, September 23rd. Finally, Telsey Advisory Group restated a “market perform” rating and set a $90.00 target price (up previously from $80.00) on shares of Starbucks in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $89.64.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
Recommended Story: What is the Coverage Ratio?
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.