Pine Valley Investments Ltd Liability Co Sells 764 Shares of Starbucks Co. (NASDAQ:SBUX)

Pine Valley Investments Ltd Liability Co cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,555 shares of the coffee company’s stock after selling 764 shares during the quarter. Pine Valley Investments Ltd Liability Co’s holdings in Starbucks were worth $1,029,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its holdings in shares of Starbucks by 100.6% during the 3rd quarter. Wellington Management Group LLP now owns 15,149,937 shares of the coffee company’s stock worth $1,476,967,000 after buying an additional 7,598,146 shares during the period. FMR LLC boosted its holdings in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares during the period. Marshall Wace LLP grew its position in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in Starbucks during the 2nd quarter worth approximately $243,910,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Starbucks by 1,078.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after buying an additional 2,329,431 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

NASDAQ SBUX opened at $97.82 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The business has a 50 day simple moving average of $98.22 and a 200 day simple moving average of $89.31. The stock has a market capitalization of $110.91 billion, a P/E ratio of 29.55, a P/E/G ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced 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. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.06 EPS. Equities analysts expect that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Friday, February 14th. Starbucks’s payout ratio is 73.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada initiated coverage on Starbucks in a report on Friday, November 15th. They set an “outperform” rating and a $115.00 target price for the company. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus raised their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wedbush cut their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.98% of the stock is owned by company insiders.

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.