Financial Insights Inc. Sells 607 Shares of Starbucks Co. (NASDAQ:SBUX)

Financial Insights Inc. cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,142 shares of the coffee company’s stock after selling 607 shares during the period. Financial Insights Inc.’s holdings in Starbucks were worth $1,184,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of SBUX. Riverview Trust Co raised its holdings in shares of Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 105 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in shares of Starbucks by 2.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock valued at $544,000 after purchasing an additional 127 shares during the last quarter. Keystone Wealth Services LLC raised its holdings in shares of Starbucks by 1.3% during the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after purchasing an additional 130 shares during the last quarter. Chicago Capital LLC raised its holdings in shares of Starbucks by 0.6% during the third quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock valued at $2,060,000 after purchasing an additional 132 shares during the last quarter. Finally, M&R Capital Management Inc. raised its holdings in shares of Starbucks by 30.9% during the second quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after purchasing an additional 134 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBUX. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $102.40.

Starbucks Stock Performance

SBUX stock opened at $96.82 on Wednesday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company’s fifty day moving average price is $95.31 and its 200-day moving average price is $84.80. The company has a market capitalization of $109.67 billion, a PE ratio of 26.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.52%. Starbucks’s dividend payout ratio is presently 62.81%.

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.