Starbucks Co. (NASDAQ:SBUX) Shares Sold by MSA Advisors LLC

MSA Advisors LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,807 shares of the coffee company’s stock after selling 3,022 shares during the quarter. Starbucks makes up approximately 8.9% of MSA Advisors LLC’s portfolio, making the stock its 3rd largest position. MSA Advisors LLC’s holdings in Starbucks were worth $34,590,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC purchased a new stake in Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC boosted its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks in the second quarter worth about $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks in the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 2.4 %

SBUX stock opened at $102.50 on Monday. The business has a 50 day moving average of $97.11 and a 200 day moving average of $87.19. The firm has a market cap of $116.21 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.60.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. Starbucks’s payout ratio is currently 73.72%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SBUX shares. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Royal Bank of Canada assumed coverage on Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target for the company. Wedbush decreased their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. TD Cowen restated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Insider Activity

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 purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $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. 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.