Belmont Capital LLC Trims Stake in Starbucks Co. (NASDAQ:SBUX)

Belmont Capital LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,880 shares of the coffee company’s stock after selling 140 shares during the quarter. Belmont Capital LLC’s holdings in Starbucks were worth $573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC bought a new stake in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC lifted its holdings in 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 purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks in the second quarter worth $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Up 2.0 %

Shares of SBUX opened at $100.40 on Tuesday. The stock has a fifty day simple moving average of $96.91 and a two-hundred day simple moving average of $86.44. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $105.47. The company has a market capitalization of $113.77 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 EPS. As a group, equities analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. This is a positive change 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 yield of 2.43%. Starbucks’s payout ratio is presently 73.72%.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 1.06 % 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.

Analyst Ratings Changes

A number of research firms recently weighed in on SBUX. Barclays lowered their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Stifel Nicolaus upped their price target on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price 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.