Leeward Financial Partners LLC Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Leeward Financial Partners LLC boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 6.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,684 shares of the coffee company’s stock after purchasing an additional 575 shares during the period. Leeward Financial Partners LLC’s holdings in Starbucks were worth $944,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Quent Capital LLC grew its position in shares of Starbucks by 9.6% during the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after acquiring an additional 385 shares during the last quarter. Salomon & Ludwin LLC boosted its position in Starbucks by 11.9% during the 1st quarter. Salomon & Ludwin LLC now owns 2,309 shares of the coffee company’s stock worth $209,000 after acquiring an additional 245 shares during the period. Mutual Advisors LLC raised its stake in shares of Starbucks by 7.0% during the first quarter. Mutual Advisors LLC now owns 45,029 shares of the coffee company’s stock valued at $4,115,000 after purchasing an additional 2,936 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Starbucks by 0.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 51,791 shares of the coffee company’s stock worth $4,733,000 after acquiring an additional 370 shares during the period. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Starbucks by 6.9% in the first quarter. Proficio Capital Partners LLC now owns 8,267 shares of the coffee company’s stock valued at $756,000 after acquiring an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.7 %

Shares of SBUX stock traded down $0.73 on Monday, reaching $98.14. The company had a trading volume of 863,340 shares, compared to its average volume of 11,258,991. The stock has a market capitalization of $111.21 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97. The business’s 50-day moving average is $95.98 and its 200 day moving average is $85.46. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.06 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 3.42 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SBUX shares. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday. BTIG Research increased their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Morgan Stanley increased their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. 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 given a strong buy rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Insider Activity

In other news, 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 transaction 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 $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.