Baillie Gifford & Co. Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Baillie Gifford & Co. lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 20.0% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 743,895 shares of the coffee company’s stock after selling 185,548 shares during the period. Baillie Gifford & Co.’s holdings in Starbucks were worth $72,522,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quent Capital LLC lifted its position in shares of Starbucks by 9.6% in the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after purchasing an additional 385 shares during the period. Avantax Advisory Services Inc. lifted its holdings in Starbucks by 10.4% during the first quarter. Avantax Advisory Services Inc. now owns 61,856 shares of the coffee company’s stock worth $5,653,000 after buying an additional 5,805 shares during the period. TBH Global Asset Management LLC boosted its position in Starbucks by 7.4% during the 1st quarter. TBH Global Asset Management LLC now owns 7,318 shares of the coffee company’s stock valued at $669,000 after acquiring an additional 506 shares in the last quarter. Kingsview Wealth Management LLC raised its position in shares of Starbucks by 10.8% in the 1st quarter. Kingsview Wealth Management LLC now owns 139,202 shares of the coffee company’s stock worth $12,722,000 after acquiring an additional 13,540 shares in the last quarter. Finally, HBK Sorce Advisory LLC lifted its stake in shares of Starbucks by 11.3% during the 1st quarter. HBK Sorce Advisory LLC now owns 9,507 shares of the coffee company’s stock worth $869,000 after purchasing an additional 967 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of a number of recent research reports. Bank of America reduced their target price 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. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average target price of $103.32.

Starbucks Price Performance

NASDAQ SBUX opened at $98.80 on Wednesday. The company has a fifty day moving average of $96.19 and a 200 day moving average of $85.86. The company has a market capitalization of $111.96 billion, a PE ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. Research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction 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. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’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 value of $305,597.50. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

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.