Starbucks Co. (NASDAQ:SBUX) Shares Sold by Klingenstein Fields & Co. LP

Klingenstein Fields & Co. LP cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 223,843 shares of the coffee company’s stock after selling 1,333 shares during the period. Klingenstein Fields & Co. LP’s holdings in Starbucks were worth $21,822,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SBUX. Riverview Trust Co increased its stake in Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares during the last quarter. DT Investment Partners LLC grew its position in Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. Childress Capital Advisors LLC lifted its holdings in Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after buying an additional 126 shares in the last quarter. Keystone Wealth Services LLC lifted its stake in shares of Starbucks by 1.3% in the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after acquiring an additional 130 shares in the last quarter. Finally, Chicago Capital LLC boosted its holdings in Starbucks by 0.6% in the third quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock valued at $2,060,000 after purchasing an additional 132 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $98.70 on Monday. The stock’s 50 day moving average price is $95.98 and its 200 day moving average price is $85.46. The stock has a market cap of $111.85 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates 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 was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 73.72%.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. Stifel Nicolaus boosted their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. BMO Capital Markets raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Company 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.