Rogco LP Sells 5,399 Shares of Starbucks Co. (NASDAQ:SBUX)

Rogco LP reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 36.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,394 shares of the coffee company’s stock after selling 5,399 shares during the period. Rogco LP’s holdings in Starbucks were worth $916,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SBUX. Vanguard Group Inc. raised its position in Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Legal & General Group Plc grew its position in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after buying an additional 221,718 shares during the period. Flossbach Von Storch AG raised its stake in Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Nordea Investment Management AB increased its stake in Starbucks by 5.2% during the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after purchasing an additional 266,570 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board bought a new position in Starbucks in the 1st quarter valued at approximately $415,167,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost 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 $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, Barclays increased their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Price Performance

Shares of SBUX stock traded up $0.23 during trading hours on Thursday, reaching $97.88. 4,653,133 shares of the company’s stock were exchanged, compared to its average volume of 11,348,387. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company’s 50 day moving average is $95.38 and its two-hundred day moving average is $84.89. The company has a market cap of $110.92 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the prior year, the firm posted $1.00 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. As a group, analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The company 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 $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. Starbucks’s dividend payout ratio (DPR) is presently 63.87%.

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.