Starbucks Co. (NASDAQ:SBUX) Shares Sold by LGT Capital Partners LTD.

LGT Capital Partners LTD. trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 97.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,500 shares of the coffee company’s stock after selling 597,100 shares during the period. LGT Capital Partners LTD.’s holdings in Starbucks were worth $1,706,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the 2nd quarter worth about $27,000. Finally, Olistico Wealth LLC acquired a new stake in Starbucks in the 2nd quarter worth about $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, UBS Group raised their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Stock Up 2.0 %

Shares of NASDAQ SBUX opened at $100.40 on Tuesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $105.47. The business has a 50 day moving average price of $96.91 and a two-hundred day moving average price of $86.44. The firm has a market cap of $113.77 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

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

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.43%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Starbucks Company 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.