Ballast Advisors LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Ballast Advisors LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,198 shares of the coffee company’s stock after selling 124 shares during the period. Ballast Advisors LLC’s holdings in Starbucks were worth $409,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in SBUX. Quent Capital LLC raised its position in Starbucks by 9.6% during the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after purchasing an additional 385 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Starbucks by 17.9% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,757 shares of the coffee company’s stock valued at $2,080,000 after acquiring an additional 3,450 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors boosted its position in Starbucks by 27.7% during the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,141 shares of the coffee company’s stock valued at $287,000 after acquiring an additional 681 shares in the last quarter. Mediolanum International Funds Ltd bought a new stake in Starbucks during the 1st quarter valued at approximately $3,254,000. Finally, Richardson Financial Services Inc. boosted its position in Starbucks by 17.5% during the 1st quarter. Richardson Financial Services Inc. now owns 2,715 shares of the coffee company’s stock valued at $248,000 after acquiring an additional 405 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock traded down $0.22 during trading on Wednesday, reaching $96.87. 718,977 shares of the stock traded hands, compared to its average volume of 11,213,316. The company has a market capitalization of $109.77 billion, a price-to-earnings ratio of 29.33, a P/E/G ratio of 2.81 and a beta of 0.97. The business has a fifty day simple moving average of $95.97 and a two-hundred day simple moving average of $85.60. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. On average, research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.52%. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBUX. 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 research report on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. BTIG Research lifted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $103.32.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost 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. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

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.