Hendershot Investments Inc. Reduces Position in Starbucks Co. (NASDAQ:SBUX)

Hendershot Investments Inc. reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,100 shares of the coffee company’s stock after selling 532 shares during the period. Starbucks makes up 1.7% of Hendershot Investments Inc.’s holdings, making the stock its 18th biggest position. Hendershot Investments Inc.’s holdings in Starbucks were worth $12,391,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Dakota Wealth Management boosted its holdings in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. raised its stake in Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after purchasing an additional 8,222 shares during the period. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Aljian Capital Management LLC grew its stake in shares of Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after buying an additional 9,936 shares during the period. Finally, Investment Management Corp of Ontario increased its holdings in shares of Starbucks by 48.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 37,584 shares of the coffee company’s stock worth $3,664,000 after buying an additional 12,300 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Redburn Atlantic restated a “sell” rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus upped their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Insiders Place Their Bets

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the business’s 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 sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Up 0.9 %

SBUX opened at $100.11 on Friday. The firm has a market cap of $113.50 billion, a price-to-earnings ratio of 30.24, a price-to-earnings-growth ratio of 2.95 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The business’s 50 day moving average is $98.03 and its two-hundred day moving average is $88.61.

Starbucks (NASDAQ:SBUX) last issued its quarterly 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 negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts expect that Starbucks Co. will post 3.11 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 73.72%.

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.