Starbucks Co. (NASDAQ:SBUX) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 37.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 338,824 shares of the coffee company’s stock after selling 207,155 shares during the period. Ceredex Value Advisors LLC’s holdings in Starbucks were worth $33,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of SBUX. Allspring Global Investments Holdings LLC grew its holdings in Starbucks by 95.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 312,309 shares of the coffee company’s stock valued at $28,542,000 after purchasing an additional 152,849 shares during the last quarter. Prosperity Consulting Group LLC purchased a new stake in shares of Starbucks in the first quarter valued at $268,000. CNB Bank boosted its stake in shares of Starbucks by 6.9% during the first quarter. CNB Bank now owns 14,777 shares of the coffee company’s stock valued at $1,350,000 after acquiring an additional 959 shares during the last quarter. BNP Paribas purchased a new stake in Starbucks during the 1st quarter worth about $9,332,000. Finally, Goelzer Investment Management Inc. acquired a new position in Starbucks in the 1st quarter valued at about $4,088,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SBUX shares. BMO Capital Markets lifted their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Trading Up 1.2 %

SBUX opened at $98.87 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a fifty day simple moving average of $95.98 and a 200 day simple moving average of $85.47. The firm has a market cap of $112.04 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.66 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 (EPS) for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts forecast that Starbucks Co. will post 3.42 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 issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is 68.88%.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

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.