Donald L. Hagan LLC Sells 978 Shares of Starbucks Co. (NASDAQ:SBUX)

Donald L. Hagan LLC reduced its holdings in Starbucks Co. (NASDAQ:SBUX) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,202 shares of the coffee company’s stock after selling 978 shares during the quarter. Donald L. Hagan LLC’s holdings in Starbucks were worth $1,190,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks in the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC bought a new stake in Starbucks in the 2nd quarter valued at $31,000. 72.29% of the stock is currently owned by institutional investors.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now 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 hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Price Performance

SBUX stock traded down $0.84 during trading hours on Wednesday, reaching $96.25. The stock had a trading volume of 1,288,609 shares, compared to its average volume of 11,218,548. The stock has a market capitalization of $109.07 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 2.81 and a beta of 0.97. The stock has a 50-day simple moving average of $95.97 and a 200 day simple moving average of $85.60. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the previous year, the company posted $1.06 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 21st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

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.