Bensler LLC Sells 6,730 Shares of Starbucks Co. (NASDAQ:SBUX)

Bensler LLC lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 30.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 15,409 shares of the coffee company’s stock after selling 6,730 shares during the quarter. Bensler LLC’s holdings in Starbucks were worth $1,502,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in SBUX. Dakota Wealth Management grew its holdings in shares of Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares in the last quarter. Maia Wealth LLC grew its stake in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares in the last quarter. LRI Investments LLC bought a new position in shares of Starbucks in the 1st quarter worth $136,000. Capital Investment Services of America Inc. raised its position in shares of Starbucks by 4.4% during the 3rd quarter. Capital Investment Services of America Inc. now owns 189,105 shares of the coffee company’s stock valued at $18,436,000 after buying an additional 8,040 shares in the last quarter. Finally, Great Valley Advisor Group Inc. lifted its holdings in shares of Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after acquiring an additional 5,377 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.0 %

NASDAQ:SBUX opened at $96.12 on Friday. The company has a 50-day moving average price of $95.99 and a 200-day moving average price of $85.67. The stock has a market cap of $108.92 billion, a price-to-earnings ratio of 29.04, a P/E/G ratio of 2.81 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued 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. 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 during the quarter, compared to analyst estimates of $9.60 billion. During the same period last year, the business posted $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.54%. Starbucks’s payout ratio is currently 73.72%.

Wall Street Analyst Weigh In

SBUX has been the topic of a number of research reports. Wedbush lowered their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Wednesday, October 23rd. Stifel Nicolaus lifted their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade 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 hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The shares were bought 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 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Starbucks 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.