Weatherly Asset Management L. P. Trims Position in Starbucks Co. (NASDAQ:SBUX)

Weatherly Asset Management L. P. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.0% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,986 shares of the coffee company’s stock after selling 5,570 shares during the quarter. Starbucks makes up 0.9% of Weatherly Asset Management L. P.’s holdings, making the stock its 24th largest holding. Weatherly Asset Management L. P.’s holdings in Starbucks were worth $10,235,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the second quarter worth about $25,000. New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter worth approximately $26,000. Stephens Consulting LLC raised its position in shares of 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 during the last quarter. Hobbs Group Advisors LLC bought 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 shares of Starbucks in the second quarter worth $31,000. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’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 in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, 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. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $98.87 on Friday. The firm’s 50 day simple moving average is $95.98 and its 200-day simple moving average is $85.47. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market cap of $112.04 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate 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 period last year, the business posted $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts predict that Starbucks Co. will post 3.42 EPS 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 issued a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is presently 68.88%.

Analyst Ratings Changes

A number of analysts have issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Barclays reduced their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Bank of America reduced their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Morgan Stanley increased their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.