Meeder Advisory Services Inc. Cuts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Meeder Advisory Services Inc. reduced its position in Starbucks Co. (NASDAQ:SBUX) by 5.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 28,853 shares of the coffee company’s stock after selling 1,631 shares during the period. Meeder Advisory Services Inc.’s holdings in Starbucks were worth $2,813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC grew its holdings in shares of Starbucks by 9.6% during the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after purchasing an additional 385 shares in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of Starbucks by 4.6% during the first quarter. Hillsdale Investment Management Inc. now owns 3,419 shares of the coffee company’s stock worth $312,000 after purchasing an additional 150 shares in the last quarter. PYA Waltman Capital LLC grew its holdings in shares of Starbucks by 9.1% during the first quarter. PYA Waltman Capital LLC now owns 8,578 shares of the coffee company’s stock worth $784,000 after purchasing an additional 719 shares in the last quarter. Capitolis Liquid Global Markets LLC purchased a new position in shares of Starbucks during the first quarter worth about $9,139,000. Finally, Lake Street Advisors Group LLC grew its holdings in shares of Starbucks by 365.7% during the first quarter. Lake Street Advisors Group LLC now owns 46,255 shares of the coffee company’s stock worth $4,227,000 after purchasing an additional 36,322 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on SBUX shares. Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Stock Down 0.4 %

SBUX opened at $98.00 on Monday. The business has a fifty day moving average of $96.75 and a 200 day moving average of $86.26. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $105.47. The stock has a market cap of $111.05 billion, a P/E ratio of 29.73, a PEG ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. Equities analysts anticipate that Starbucks Co. will post 3.15 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. Shareholders of record on Friday, November 15th will be given 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 2.49%. Starbucks’s payout ratio is 68.88%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost 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. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.98% of the stock is currently owned by corporate insiders.

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.