Advisory Services & Investments LLC Sells 147 Shares of Starbucks Co. (NASDAQ:SBUX)

Advisory Services & Investments LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,012 shares of the coffee company’s stock after selling 147 shares during the period. Starbucks comprises about 0.5% of Advisory Services & Investments LLC’s investment portfolio, making the stock its 21st biggest holding. Advisory Services & Investments LLC’s holdings in Starbucks were worth $781,000 at the end of the most recent quarter.

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

Starbucks Trading Up 2.4 %

NASDAQ:SBUX opened at $102.50 on Friday. The company has a market capitalization of $116.21 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.90 and a beta of 0.97. The business’s 50-day moving average is $97.11 and its 200 day moving average is $87.00. Starbucks Co. has a 12 month low of $71.55 and a 12 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 for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. On average, research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 dividend yield of 2.38%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction 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 position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Wedbush reduced their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Finally, UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $102.81.

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.