Starbucks Co. (NASDAQ:SBUX) Shares Sold by Pathstone Holdings LLC

Pathstone Holdings LLC cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 186,786 shares of the coffee company’s stock after selling 3,882 shares during the quarter. Pathstone Holdings LLC’s holdings in Starbucks were worth $18,210,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Quent Capital LLC lifted its stake in Starbucks by 9.6% during the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after purchasing an additional 385 shares during the last quarter. Pitcairn Co. lifted its position in shares of Starbucks by 3.1% during the 1st quarter. Pitcairn Co. now owns 12,394 shares of the coffee company’s stock valued at $1,133,000 after acquiring an additional 369 shares during the last quarter. Evermay Wealth Management LLC boosted its stake in shares of Starbucks by 88.2% during the 1st quarter. Evermay Wealth Management LLC now owns 1,048 shares of the coffee company’s stock worth $96,000 after acquiring an additional 491 shares in the last quarter. Crewe Advisors LLC acquired a new position in shares of Starbucks in the 1st quarter worth $207,000. Finally, EntryPoint Capital LLC raised its position in shares of Starbucks by 47.6% during the first quarter. EntryPoint Capital LLC now owns 1,765 shares of the coffee company’s stock worth $161,000 after purchasing an additional 569 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Stock Down 2.0 %

Shares of Starbucks stock opened at $98.35 on Wednesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $105.47. The stock has a market capitalization of $111.45 billion, a P/E ratio of 29.71, a PEG ratio of 2.85 and a beta of 0.97. The stock has a 50 day moving average price of $97.01 and a two-hundred day moving average price of $86.62.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during 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 period in the prior year, the company earned $1.06 earnings per share. Sell-side analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared 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 of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. Starbucks’s payout ratio is 73.72%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SBUX shares. Morgan Stanley lifted their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. UBS Group lifted their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Finally, Bank of America lowered 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. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

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.