Commerzbank Aktiengesellschaft FI Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Commerzbank Aktiengesellschaft FI lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 22.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,405 shares of the coffee company’s stock after selling 12,837 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Starbucks were worth $4,232,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC boosted its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks in the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks during the 2nd quarter worth approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $94.56 on Wednesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a market capitalization of $107.11 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The company’s 50 day simple moving average is $95.31 and its two-hundred day simple moving average is $84.80.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.00 EPS. On average, equities analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 62.81%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Barclays lifted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Stifel Nicolaus decreased their price target on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Finally, DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average target price of $102.08.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction 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 completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s 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 acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 value of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

About Starbucks

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.