Chevy Chase Trust Holdings LLC Sells 9,898 Shares of Starbucks Co. (NASDAQ:SBUX)

Chevy Chase Trust Holdings LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 623,584 shares of the coffee company’s stock after selling 9,898 shares during the quarter. Chevy Chase Trust Holdings LLC owned about 0.06% of Starbucks worth $60,793,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SBUX. FMR LLC increased its position in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares in the last quarter. Fisher Asset Management LLC grew its stake in Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after buying an additional 327,734 shares during the last quarter. Legal & General Group Plc increased its position in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after buying an additional 221,718 shares in the last quarter. Van ECK Associates Corp raised its stake in Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Finally, Swiss National Bank boosted its holdings in Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after acquiring an additional 9,900 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.9 %

NASDAQ:SBUX opened at $102.46 on Monday. The stock has a market capitalization of $116.17 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The stock’s 50-day moving average price is $97.63 and its 200-day moving average price is $88.10.

Starbucks (NASDAQ:SBUX) last issued 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. The company had revenue of $9.07 billion for 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%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 earnings per share. Sell-side analysts expect that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on SBUX shares. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Morgan Stanley lifted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BMO Capital Markets upped 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. Finally, Barclays lowered their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

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.