Starbucks Co. (NASDAQ:SBUX) Shares Sold by Curi RMB Capital LLC

Curi RMB Capital LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 15.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,403 shares of the coffee company’s stock after selling 1,306 shares during the quarter. Curi RMB Capital LLC’s holdings in Starbucks were worth $722,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Zions Bancorporation N.A. boosted its holdings in shares of Starbucks by 434.2% in the 3rd quarter. Zions Bancorporation N.A. now owns 20,897 shares of the coffee company’s stock valued at $2,037,000 after buying an additional 16,985 shares during the period. Plato Investment Management Ltd boosted its stake in Starbucks by 2.9% during the 3rd quarter. Plato Investment Management Ltd now owns 14,451 shares of the coffee company’s stock valued at $1,407,000 after purchasing an additional 403 shares during the period. Schrum Private Wealth Management LLC boosted its stake in Starbucks by 100.0% during the 3rd quarter. Schrum Private Wealth Management LLC now owns 5,738 shares of the coffee company’s stock valued at $559,000 after purchasing an additional 2,869 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Starbucks by 3.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 220,529 shares of the coffee company’s stock valued at $21,499,000 after purchasing an additional 8,151 shares during the period. Finally, GHE LLC boosted its stake in Starbucks by 0.5% during the 3rd quarter. GHE LLC now owns 44,795 shares of the coffee company’s stock valued at $4,344,000 after purchasing an additional 233 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Starbucks stock opened at $98.42 on Friday. The firm’s 50 day simple moving average is $96.60 and its 200-day simple moving average is $86.12. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a market cap of $111.53 billion, a P/E ratio of 29.73, a price-to-earnings-growth 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, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the firm posted $1.06 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed 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 of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.48%. Starbucks’s payout ratio is presently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst 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 research note on Tuesday, October 22nd. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Royal Bank of Canada initiated coverage on shares of Starbucks in a research report on Friday. They set an “outperform” rating and a $115.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value 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 approximately $3,316,143. The trade was a 1.06 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is currently 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.