Starbucks Co. (NASDAQ:SBUX) Shares Sold by Iron Horse Wealth Management LLC

Iron Horse Wealth Management LLC reduced its position in Starbucks Co. (NASDAQ:SBUX) by 9.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,618 shares of the coffee company’s stock after selling 262 shares during the quarter. Iron Horse Wealth Management LLC’s holdings in Starbucks were worth $255,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the second quarter worth approximately $25,000. New Millennium Group LLC bought a new position in Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC grew its holdings in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.4 %

NASDAQ SBUX traded down $0.38 on Wednesday, reaching $96.44. The company’s stock had a trading volume of 9,103,138 shares, compared to its average volume of 11,334,333. The firm has a market cap of $109.24 billion, a PE ratio of 26.60, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The business has a 50-day moving average price of $95.31 and a 200 day moving average price of $84.80.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the company earned $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. Analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal 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 paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.53%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 62.81%.

Analyst Ratings Changes

SBUX has been the topic of a number of recent research reports. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. BMO Capital Markets boosted their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Stifel Nicolaus reduced their target price on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $102.48.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

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.