Starbucks Co. (NASDAQ:SBUX) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 11.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,766 shares of the coffee company’s stock after selling 20,852 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Starbucks were worth $14,992,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SBUX. Riverview Trust Co raised its holdings in Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after purchasing an additional 105 shares in the last quarter. Essex Savings Bank increased its position in shares of Starbucks by 1.6% during the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares during the period. Virtue Capital Management LLC increased its position in shares of Starbucks by 1.7% during the 3rd quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after purchasing an additional 115 shares during the period. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. Finally, Childress Capital Advisors LLC lifted its holdings in shares of Starbucks by 4.8% in the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after buying an additional 126 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In other news, CFO Rachel Ruggeri sold 1,491 shares of the 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 transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.98% of the stock is owned by insiders.

Starbucks Trading Down 0.4 %

SBUX opened at $97.42 on Friday. The stock has a fifty day moving average price of $98.24 and a 200 day moving average price of $89.44. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The stock has a market cap of $110.45 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 2.89 and a beta of 0.97.

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 the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company earned $1.06 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Analyst Ratings Changes

A number of research firms recently issued reports on SBUX. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Barclays lowered their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Wells Fargo & Company lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Company 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.