Hixon Zuercher LLC Sells 43,754 Shares of Starbucks Co. (NASDAQ:SBUX)

Hixon Zuercher LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 62.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 26,622 shares of the coffee company’s stock after selling 43,754 shares during the quarter. Hixon Zuercher LLC’s holdings in Starbucks were worth $2,595,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. HF Advisory Group LLC grew its stake in Starbucks by 90.2% during the third quarter. HF Advisory Group LLC now owns 14,458 shares of the coffee company’s stock worth $1,409,000 after buying an additional 6,856 shares during the last quarter. North Star Investment Management Corp. boosted its holdings in shares of Starbucks by 0.3% in the 3rd quarter. North Star Investment Management Corp. now owns 44,438 shares of the coffee company’s stock worth $4,332,000 after acquiring an additional 133 shares in the last quarter. Heritage Investors Management Corp grew its position in Starbucks by 52.9% during the 3rd quarter. Heritage Investors Management Corp now owns 5,961 shares of the coffee company’s stock worth $581,000 after acquiring an additional 2,063 shares during the last quarter. Sentry Investment Management LLC increased its holdings in Starbucks by 5.9% during the 3rd quarter. Sentry Investment Management LLC now owns 10,080 shares of the coffee company’s stock valued at $983,000 after purchasing an additional 560 shares in the last quarter. Finally, United Advisor Group LLC raised its position in Starbucks by 94.1% in the 3rd quarter. United Advisor Group LLC now owns 10,398 shares of the coffee company’s stock valued at $1,014,000 after purchasing an additional 5,041 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Up 0.1 %

Shares of SBUX stock opened at $97.09 on Wednesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a fifty day moving average of $95.97 and a 200-day moving average of $85.60. The firm has a market capitalization of $110.02 billion, a price-to-earnings ratio of 29.33, a price-to-earnings-growth ratio of 3.17 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during 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 company’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.06 earnings per share. Research analysts expect that Starbucks Co. will post 3.22 earnings per share for the current year.

Starbucks Increases Dividend

The business 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 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 68.88%.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, 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 position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. 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 available through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s 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 transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents 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.

Analysts Set New Price Targets

Several analysts have recently commented on SBUX shares. UBS Group increased their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Citigroup raised their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.32.

About Starbucks

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.