Starbucks Co. (NASDAQ:SBUX) Shares Sold by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV lowered its position in shares of Starbucks Co. (NASDAQ:SBUX) by 10.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,804 shares of the coffee company’s stock after selling 8,113 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Starbucks were worth $6,610,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. JFS Wealth Advisors LLC grew its holdings in shares of Starbucks by 22.6% during the third quarter. JFS Wealth Advisors LLC now owns 3,271 shares of the coffee company’s stock valued at $319,000 after purchasing an additional 602 shares during the last quarter. SteelPeak Wealth LLC grew its holdings in shares of Starbucks by 25.4% during the third quarter. SteelPeak Wealth LLC now owns 26,068 shares of the coffee company’s stock valued at $2,541,000 after purchasing an additional 5,286 shares during the last quarter. Pinnacle Associates Ltd. grew its holdings in shares of Starbucks by 30.0% during the third quarter. Pinnacle Associates Ltd. now owns 236,285 shares of the coffee company’s stock valued at $22,686,000 after purchasing an additional 54,468 shares during the last quarter. First Trust Direct Indexing L.P. grew its holdings in shares of Starbucks by 20.1% during the third quarter. First Trust Direct Indexing L.P. now owns 36,435 shares of the coffee company’s stock valued at $3,552,000 after purchasing an additional 6,090 shares during the last quarter. Finally, Highline Wealth Partners LLC bought a new position in shares of Starbucks during the third quarter valued at approximately $1,119,000. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Down 0.1 %

NASDAQ SBUX opened at $97.32 on Thursday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market capitalization of $110.28 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.59 and a beta of 0.97. The firm’s fifty day simple moving average is $95.77 and its 200-day simple moving average is $85.28.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.24). The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 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 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.06 earnings per share. As a group, analysts predict that Starbucks Co. will post 3.34 EPS 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 given a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is currently 68.35%.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBUX. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Finally, TD Cowen reissued a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

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.