Stratos Wealth Partners LTD. lessened its position in Starbucks Co. (NASDAQ:SBUX) by 14.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,078 shares of the coffee company’s stock after selling 7,980 shares during the period. Stratos Wealth Partners LTD.’s holdings in Starbucks were worth $2,676,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of SBUX. Principal Financial Group Inc. increased its stake in Starbucks by 6.6% in the first quarter. Principal Financial Group Inc. now owns 5,043,587 shares of the coffee company’s stock valued at $291,975,000 after purchasing an additional 312,720 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of Starbucks by 43.5% during the second quarter. IFM Investors Pty Ltd now owns 63,633 shares of the coffee company’s stock worth $3,108,000 after acquiring an additional 19,276 shares in the last quarter. Thompson Investment Management Inc. increased its position in shares of Starbucks by 18.8% during the second quarter. Thompson Investment Management Inc. now owns 27,051 shares of the coffee company’s stock worth $1,321,000 after acquiring an additional 4,275 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV increased its position in shares of Starbucks by 21.8% during the second quarter. Hudson Valley Investment Advisors Inc. ADV now owns 38,575 shares of the coffee company’s stock worth $1,884,000 after acquiring an additional 6,905 shares in the last quarter. Finally, Capital Investment Advisors LLC increased its position in shares of Starbucks by 19.4% during the second quarter. Capital Investment Advisors LLC now owns 6,742 shares of the coffee company’s stock worth $329,000 after acquiring an additional 1,095 shares in the last quarter. 71.77% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently issued reports on SBUX. Telsey Advisory Group lowered their price objective on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Tuesday, July 17th. Zacks Investment Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Wedbush reissued a “hold” rating and set a $53.00 price objective on shares of Starbucks in a research report on Tuesday, September 18th. Wells Fargo & Co increased their price objective on shares of Starbucks from $60.00 to $64.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. Finally, BidaskClub downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 2nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have assigned a buy rating to the stock. Starbucks has a consensus rating of “Hold” and a consensus price target of $63.48.
Starbucks (NASDAQ:SBUX) last released its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.28 billion. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.55 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 2.65 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, November 14th. Starbucks’s dividend payout ratio (DPR) is currently 59.50%.
In other Starbucks news, Director Myron E. Ullman III sold 99,166 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $55.05, for a total value of $5,459,088.30. Following the completion of the sale, the director now owns 29,000 shares in the company, valued at $1,596,450. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Rosalind G. Brewer purchased 5,000 shares of the business’s stock in a transaction on Monday, August 20th. The stock was purchased at an average price of $54.04 per share, with a total value of $270,200.00. Following the purchase, the insider now owns 7,302 shares of the company’s stock, valued at $394,600.08. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 280,832 shares of company stock valued at $15,052,087. 3.48% of the stock is owned by insiders.
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Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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