Northeast Investment Management Has $782,000 Position in Starbucks Co. (NASDAQ:SBUX)

Northeast Investment Management reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,024 shares of the coffee company’s stock after selling 374 shares during the quarter. Northeast Investment Management’s holdings in Starbucks were worth $782,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Ground Swell Capital LLC acquired a new position in shares of Starbucks during the 3rd quarter worth about $1,343,000. Robeco Institutional Asset Management B.V. grew its position in shares of Starbucks by 6.0% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 45,446 shares of the coffee company’s stock worth $4,431,000 after buying an additional 2,590 shares during the period. Opes Wealth Management LLC acquired a new position in shares of Starbucks during the 3rd quarter worth about $203,000. First National Bank Sioux Falls grew its position in shares of Starbucks by 11.3% during the 3rd quarter. First National Bank Sioux Falls now owns 6,292 shares of the coffee company’s stock worth $613,000 after buying an additional 637 shares during the period. Finally, Nvwm LLC lifted its holdings in shares of Starbucks by 1.6% during the 3rd quarter. Nvwm LLC now owns 29,410 shares of the coffee company’s stock valued at $2,867,000 after purchasing an additional 474 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SBUX. BMO Capital Markets lifted their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Wedbush cut their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Finally, Bank of America cut their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Stock Up 1.2 %

Shares of Starbucks stock opened at $98.87 on Monday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market cap of $112.04 billion, a P/E ratio of 29.87, a P/E/G 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 (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.06 EPS. On average, sell-side analysts expect that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 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 2.47%. Starbucks’s payout ratio is presently 73.72%.

Insider Buying and Selling

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

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.