Clear Street Markets LLC reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 32.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,600 shares of the coffee company’s stock after selling 22,587 shares during the quarter. Starbucks accounts for about 0.4% of Clear Street Markets LLC’s holdings, making the stock its 27th biggest holding. Clear Street Markets LLC’s holdings in Starbucks were worth $4,120,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the stock. Enterprise Trust & Investment Co bought a new position in Starbucks in the second quarter valued at about $25,000. Northern Oak Wealth Management Inc. raised its position in Starbucks by 95.7% in the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 177 shares during the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Starbucks in the second quarter valued at about $32,000. Atlas Capital Advisors LLC increased its stake in shares of Starbucks by 53.3% in the second quarter. Atlas Capital Advisors LLC now owns 417 shares of the coffee company’s stock valued at $35,000 after buying an additional 145 shares during the period. Finally, Virtus ETF Advisers LLC acquired a new stake in shares of Starbucks in the second quarter valued at about $42,000. Institutional investors and hedge funds own 70.68% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Bank of America decreased their price target on Starbucks from $100.00 to $97.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. BTIG Research reissued a “hold” rating on shares of Starbucks in a research note on Wednesday, September 4th. Barclays increased their price target on Starbucks from $75.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. OTR Global raised Starbucks to a “positive” rating in a research note on Tuesday, July 16th. Finally, Morgan Stanley increased their price target on Starbucks from $81.00 to $88.00 and gave the company an “equal weight” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and thirteen have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $89.64.
In other news, CAO Jill Walker sold 2,000 shares of Starbucks stock in a transaction on Monday, September 9th. The stock was sold at an average price of $95.80, for a total value of $191,600.00. Following the completion of the transaction, the chief accounting officer now directly owns 39,999 shares in the company, valued at $3,831,904.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of Starbucks stock in a transaction on Friday, November 1st. The shares were sold at an average price of $84.79, for a total value of $845,610.67. Following the completion of the transaction, the director now owns 28,407 shares of the company’s stock, valued at $2,408,629.53. The disclosure for this sale can be found here. Insiders sold 112,885 shares of company stock valued at $10,707,543 over the last three months. Company insiders own 3.98% of the company’s stock.
Starbucks stock traded down $0.18 during mid-day trading on Friday, reaching $81.77. The stock had a trading volume of 7,054,700 shares, compared to its average volume of 8,267,584. The stock’s 50-day simple moving average is $85.72 and its 200-day simple moving average is $86.55. Starbucks Co. has a fifty-two week low of $60.42 and a fifty-two week high of $99.72. The firm has a market capitalization of $98.02 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 2.03 and a beta of 0.53.
Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.70. Starbucks had a negative return on equity of 75.45% and a net margin of 13.58%. The business had revenue of $6.75 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the business posted $0.62 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. As a group, equities research analysts expect that Starbucks Co. will post 3.05 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 13th will be given a $0.41 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.36. This represents a $1.64 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, November 12th. Starbucks’s dividend payout ratio (DPR) is currently 50.88%.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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