Starbucks Co. (NASDAQ:SBUX) Shares Sold by Incline Global Management LLC

Incline Global Management LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 23.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 102,523 shares of the coffee company’s stock after selling 32,117 shares during the quarter. Starbucks comprises about 4.4% of Incline Global Management LLC’s holdings, making the stock its 8th largest position. Incline Global Management LLC’s holdings in Starbucks were worth $9,995,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Investment Management Corp of Ontario increased its holdings in Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock valued at $3,664,000 after acquiring an additional 12,300 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Starbucks by 12.0% in the third quarter. Janus Henderson Group PLC now owns 181,612 shares of the coffee company’s stock valued at $17,713,000 after acquiring an additional 19,406 shares in the last quarter. Hilltop Holdings Inc. raised its stake in Starbucks by 626.9% in the 3rd quarter. Hilltop Holdings Inc. now owns 26,032 shares of the coffee company’s stock valued at $2,538,000 after purchasing an additional 22,451 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Starbucks during the 3rd quarter worth about $50,915,000. Finally, Cinctive Capital Management LP grew its holdings in shares of Starbucks by 701.4% during the third quarter. Cinctive Capital Management LP now owns 54,728 shares of the coffee company’s stock worth $5,335,000 after buying an additional 47,899 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.5 %

Starbucks stock traded down $1.49 during trading hours on Tuesday, reaching $100.02. 203,555 shares of the company were exchanged, compared to its average volume of 10,908,759. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The firm has a market cap of $113.40 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 3.00 and a beta of 0.97. The stock has a 50-day moving average of $97.63 and a 200 day moving average of $88.10.

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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the business posted $1.06 EPS. Starbucks’s revenue was down 3.2% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were 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 was Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.44%. Starbucks’s dividend payout ratio is presently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several analyst reports. Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Wedbush decreased their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, BMO Capital Markets increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.