Starbucks Co. (NASDAQ:SBUX) Shares Sold by Semmax Financial Advisors Inc.

Semmax Financial Advisors Inc. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.6% in the third quarter, HoldingsChannel.com reports. The firm owned 57,585 shares of the coffee company’s stock after selling 2,748 shares during the quarter. Starbucks makes up 1.5% of Semmax Financial Advisors Inc.’s holdings, making the stock its 16th biggest holding. Semmax Financial Advisors Inc.’s holdings in Starbucks were worth $5,689,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Burney Co. grew its stake in Starbucks by 10.5% in the 1st quarter. Burney Co. now owns 3,154 shares of the coffee company’s stock valued at $288,000 after acquiring an additional 300 shares during the period. Transcend Capital Advisors LLC increased its stake in shares of Starbucks by 1.7% during the second quarter. Transcend Capital Advisors LLC now owns 17,313 shares of the coffee company’s stock worth $1,348,000 after purchasing an additional 292 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Starbucks by 70.1% during the second quarter. GAMMA Investing LLC now owns 12,688 shares of the coffee company’s stock worth $988,000 after purchasing an additional 5,228 shares in the last quarter. DNB Asset Management AS raised its position in shares of Starbucks by 7.1% during the 2nd quarter. DNB Asset Management AS now owns 187,051 shares of the coffee company’s stock worth $14,562,000 after purchasing an additional 12,477 shares during the last quarter. Finally, Bank & Trust Co purchased a new position in Starbucks in the 2nd quarter valued at about $549,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.9 %

NASDAQ:SBUX opened at $102.46 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32. The firm has a market cap of $116.17 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. The stock has a fifty day moving average price of $97.63 and a 200 day moving average price of $88.01.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Citigroup increased their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley lifted their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Activity

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.