Cordatus Wealth Management LLC Trims Stock Position in Starbucks Co. (NASDAQ:SBUX)

Cordatus Wealth Management LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,322 shares of the coffee company’s stock after selling 192 shares during the period. Cordatus Wealth Management LLC’s holdings in Starbucks were worth $2,176,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. Dakota Wealth Management lifted its stake in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after acquiring an additional 300 shares during the period. Fidelis Capital Partners LLC raised its stake in shares of Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Starbucks in the 1st quarter valued at approximately $136,000. BNP Paribas purchased a new stake in shares of Starbucks in the first quarter valued at approximately $9,332,000. Finally, Great Valley Advisor Group Inc. grew its holdings in Starbucks by 45.8% during the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after acquiring an additional 5,377 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

SBUX traded down $0.78 during trading hours on Thursday, reaching $96.54. 4,492,492 shares of the stock traded hands, compared to its average volume of 11,283,994. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm’s fifty day simple moving average is $95.77 and its two-hundred day simple moving average is $85.28. The company has a market cap of $109.40 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.59 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the business posted $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts predict that Starbucks Co. will post 3.34 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. This is an increase 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 2.53%. Starbucks’s dividend payout ratio (DPR) is 68.35%.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The stock was 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 owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price 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 $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on SBUX. Wedbush reissued a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Sanford C. Bernstein upgraded 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. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Wednesday, October 23rd. Finally, DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

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.