Starbucks Co. (NASDAQ:SBUX) Shares Sold by Heritage Way Advisors LLC

Heritage Way Advisors LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX) by 1.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,358 shares of the coffee company’s stock after selling 272 shares during the period. Starbucks makes up approximately 1.3% of Heritage Way Advisors LLC’s portfolio, making the stock its 28th biggest holding. Heritage Way Advisors LLC’s holdings in Starbucks were worth $3,128,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. Bell Bank grew its holdings in Starbucks by 0.5% during the second quarter. Bell Bank now owns 15,838 shares of the coffee company’s stock worth $1,771,000 after acquiring an additional 83 shares during the period. Torray LLC boosted its position in Starbucks by 2.1% during the second quarter. Torray LLC now owns 4,085 shares of the coffee company’s stock worth $457,000 after purchasing an additional 85 shares in the last quarter. Thoroughbred Financial Services LLC boosted its position in Starbucks by 1.7% during the second quarter. Thoroughbred Financial Services LLC now owns 5,304 shares of the coffee company’s stock worth $593,000 after purchasing an additional 88 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in Starbucks by 0.8% during the second quarter. Westfield Capital Management Co. LP now owns 10,840 shares of the coffee company’s stock worth $1,212,000 after purchasing an additional 90 shares in the last quarter. Finally, GYL Financial Synergies LLC boosted its position in Starbucks by 1.3% during the second quarter. GYL Financial Synergies LLC now owns 7,529 shares of the coffee company’s stock worth $842,000 after purchasing an additional 93 shares in the last quarter. 68.27% of the stock is currently owned by institutional investors and hedge funds.

In other Starbucks news, insider Michael Aaron Conway sold 47,088 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The stock was sold at an average price of $111.50, for a total transaction of $5,250,312.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gina Woods sold 4,030 shares of the firm’s stock in a transaction that occurred on Tuesday, November 23rd. The shares were sold at an average price of $113.41, for a total value of $457,042.30. The disclosure for this sale can be found here. Corporate insiders own 0.36% of the company’s stock.

Shares of NASDAQ:SBUX opened at $110.66 on Friday. The firm has a market capitalization of $129.83 billion, a PE ratio of 31.17, a P/E/G ratio of 1.60 and a beta of 0.84. The business has a 50-day moving average of $112.48 and a two-hundred day moving average of $114.42. Starbucks Co. has a 12 month low of $95.92 and a 12 month high of $126.32.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Thursday, October 28th. The coffee company reported $1.00 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.00. The company had revenue of $8.10 billion during the quarter, compared to analyst estimates of $8.22 billion. Starbucks had a negative return on equity of 55.34% and a net margin of 14.45%. The firm’s revenue was up 30.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. As a group, research analysts predict that Starbucks Co. will post 3.47 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, February 25th. Shareholders of record on Friday, February 11th will be paid a dividend of $0.49 per share. The ex-dividend date of this dividend is Thursday, February 10th. This represents a $1.96 annualized dividend and a yield of 1.77%. Starbucks’s dividend payout ratio is presently 55.21%.

A number of analysts have commented on the company. MKM Partners decreased their target price on Starbucks from $130.00 to $114.00 and set a “neutral” rating on the stock in a research report on Friday, October 29th. Jefferies Financial Group decreased their target price on Starbucks from $145.00 to $142.00 and set a “buy” rating on the stock in a research report on Friday, October 29th. Barclays decreased their target price on Starbucks from $135.00 to $128.00 and set an “overweight” rating on the stock in a research report on Friday, October 29th. Atlantic Securities downgraded Starbucks from an “overweight” rating to a “neutral” rating and set a $105.00 price objective on the stock. in a research report on Thursday, September 30th. Finally, Robert W. Baird reduced their price objective on Starbucks from $144.00 to $128.00 and set an “outperform” rating on the stock in a research report on Friday, October 29th. Ten investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $123.00.

Starbucks Profile

Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: Americas; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA); and Channel Development. The Americas, CAP, EMEA segments sells coffee and other beverages, complementary food, packaged coffees, single-serve coffee products, and a focused selection of merchandise through company-oriented stores, and licensed stores.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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