Commerce Bank Sells 11,928 Shares of Starbucks Co. (NASDAQ:SBUX)

Commerce Bank trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,883 shares of the coffee company’s stock after selling 11,928 shares during the period. Commerce Bank’s holdings in Starbucks were worth $13,052,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter worth about $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the second quarter worth approximately $26,000. Stephens Consulting LLC grew its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks during the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Starbucks during the second quarter worth $31,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Trading Down 0.1 %

NASDAQ:SBUX opened at $98.26 on Thursday. The stock has a market capitalization of $111.35 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The firm’s 50 day moving average is $97.01 and its 200 day moving average is $86.70. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $104.68.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. Starbucks’s revenue was down 3.2% on a year-over-year basis. Research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.48%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 73.72%.

Analyst Ratings Changes

Several equities research analysts have weighed in on SBUX shares. BTIG Research upped their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Stifel Nicolaus raised their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, BMO Capital Markets raised their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.81.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s 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 completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Company 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.