Starbucks Co. (NASDAQ:SBUX) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 2.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,618 shares of the coffee company’s stock after selling 3,325 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Starbucks were worth $13,611,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SBUX. Dakota Wealth Management raised its holdings in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after acquiring an additional 300 shares in the last quarter. Weil Company Inc. raised its stake in shares of Starbucks by 31.2% in the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after purchasing an additional 8,222 shares in the last quarter. Maia Wealth LLC lifted its position in shares of Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Zions Bancorporation N.A. grew its stake in Starbucks by 434.2% in the third quarter. Zions Bancorporation N.A. now owns 20,897 shares of the coffee company’s stock worth $2,037,000 after purchasing an additional 16,985 shares in the last quarter. Finally, LRI Investments LLC bought a new stake in Starbucks in the first quarter valued at about $136,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of SBUX stock opened at $98.42 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a 50-day moving average of $96.75 and a 200-day moving average of $86.18. The company has a market cap of $111.53 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 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 for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.06 EPS. As a group, research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. Starbucks’s dividend payout ratio is presently 68.88%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. 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. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. BTIG Research boosted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Wedbush dropped their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

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.