Starbucks Co. (NASDAQ:SBUX) Position Reduced by Audent Global Asset Management LLC

Audent Global Asset Management LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 59.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,238 shares of the coffee company’s stock after selling 6,254 shares during the period. Audent Global Asset Management LLC’s holdings in Starbucks were worth $413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management raised its holdings in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. raised its holdings in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC raised its holdings in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC raised its holdings in Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after buying an additional 9,900 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada assumed coverage on Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target on the stock. UBS Group upped their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Barclays dropped their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. 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 stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Trading Up 0.9 %

SBUX stock opened at $102.46 on Monday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The company has a fifty day simple moving average of $97.63 and a 200 day simple moving average of $88.10. The firm has a market cap of $116.17 billion, a PE ratio of 30.95, a PEG ratio of 3.00 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 earnings per share (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 in the previous year, the business earned $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 73.72%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

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.