Starbucks Co. (NASDAQ:SBUX) Shares Sold by NorthRock Partners LLC

NorthRock Partners LLC lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,436 shares of the coffee company’s stock after selling 106 shares during the period. NorthRock Partners LLC’s holdings in Starbucks were worth $920,000 at the end of the most recent reporting period.

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

Starbucks Stock Down 0.2 %

SBUX stock traded down $0.19 during midday trading on Tuesday, reaching $96.84. The stock had a trading volume of 917,959 shares, compared to its average volume of 11,238,278. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The business has a fifty day simple moving average of $96.00 and a two-hundred day simple moving average of $85.53. The firm has a market cap of $109.74 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.17 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $1.06 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts predict that Starbucks Co. will post 3.22 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.52%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 68.88%.

Insiders Place Their Bets

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SBUX shares. BMO Capital Markets lifted their price objective 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. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Wedbush cut their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $103.32.

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.