KCM Investment Advisors LLC Has $13.24 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

KCM Investment Advisors LLC lessened its position in Starbucks Co. (NASDAQ:SBUX) by 0.9% during the third quarter, Holdings Channel reports. The institutional investor owned 135,827 shares of the coffee company’s stock after selling 1,293 shares during the quarter. KCM Investment Advisors LLC’s holdings in Starbucks were worth $13,242,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC increased its position in shares of Starbucks by 498.2% during the 2nd 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 last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of several research analyst reports. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Barclays cut their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 1.1 %

Shares of SBUX traded up $1.12 during trading hours on Friday, hitting $99.74. The company had a trading volume of 1,580,885 shares, compared to its average volume of 11,116,984. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market cap of $113.03 billion, a P/E ratio of 30.16, a P/E/G ratio of 2.89 and a beta of 0.97. The stock’s 50 day moving average price is $96.60 and its 200 day moving average price is $86.12.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the business earned $1.06 EPS. Starbucks’s revenue was down 3.2% compared to the same quarter last year. On average, research analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.45%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is presently 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.