Douglass Winthrop Advisors LLC Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Douglass Winthrop Advisors LLC decreased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 7.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 29,031 shares of the coffee company’s stock after selling 2,354 shares during the period. Douglass Winthrop Advisors LLC’s holdings in Starbucks were worth $2,830,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBUX shares. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. BTIG Research lifted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Trading Up 2.4 %

NASDAQ:SBUX opened at $102.50 on Monday. The company has a 50-day moving average price of $97.11 and a 200-day moving average price of $87.19. The stock has a market cap of $116.21 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 3.00 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.60.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting 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 period last year, the business posted $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.38%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated 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 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 disclosure for this purchase can be found here. 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.