KBC Group NV Sells 7,829 Shares of Starbucks Co. (NASDAQ:SBUX)

KBC Group NV decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.4% during the third quarter, Holdings Channel reports. The firm owned 319,661 shares of the coffee company’s stock after selling 7,829 shares during the quarter. KBC Group NV’s holdings in Starbucks were worth $31,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks in the 2nd quarter worth $25,000. New Millennium Group LLC bought a new position in Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC boosted its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter valued at about $31,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired 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 directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $99.23 on Friday. The stock has a 50 day moving average price of $96.45 and a 200-day moving average price of $86.03. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a market capitalization of $112.45 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business earned $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is presently 68.88%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SBUX. Stifel Nicolaus raised their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, UBS Group raised their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three equities 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.31.

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.