SC&H Financial Advisors Inc. Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

SC&H Financial Advisors Inc. cut its stake in Starbucks Co. (NASDAQ:SBUX) by 7.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,882 shares of the coffee company’s stock after selling 244 shares during the period. SC&H Financial Advisors Inc.’s holdings in Starbucks were worth $281,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Aviance Capital Partners LLC acquired a new stake in shares of Starbucks in the first quarter valued at approximately $330,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Starbucks by 95.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 312,309 shares of the coffee company’s stock valued at $28,542,000 after purchasing an additional 152,849 shares during the last quarter. Naviter Wealth LLC boosted its holdings in shares of Starbucks by 22.6% in the 1st quarter. Naviter Wealth LLC now owns 16,561 shares of the coffee company’s stock valued at $1,514,000 after purchasing an additional 3,050 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Starbucks by 32.1% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 30,089 shares of the coffee company’s stock valued at $2,750,000 after purchasing an additional 7,316 shares during the last quarter. Finally, Evolution Wealth Advisors LLC acquired a new position in shares of Starbucks in the 1st quarter valued at $236,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the topic of a number of research reports. Stifel Nicolaus cut their target price on shares of Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. BTIG Research raised their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a report on Tuesday, August 13th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Stock Performance

SBUX opened at $97.71 on Tuesday. The business’s 50-day simple moving average is $95.59 and its 200 day simple moving average is $85.11. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $110.72 billion, a PE ratio of 27.46, a PEG ratio of 2.59 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. On average, research analysts forecast that Starbucks Co. will post 3.34 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. 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 annualized dividend and a yield of 2.50%. Starbucks’s payout ratio is 63.87%.

Insider Activity at Starbucks

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

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.