Confluence Investment Management LLC Lowers Position in Starbucks Co. (NASDAQ:SBUX)

Confluence Investment Management LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.2% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 688,549 shares of the coffee company’s stock after selling 1,545 shares during the period. Confluence Investment Management LLC’s holdings in Starbucks were worth $67,127,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Quent Capital LLC grew its stake in Starbucks by 9.6% in the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after buying an additional 385 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Starbucks by 6.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 174,278 shares of the coffee company’s stock worth $15,927,000 after acquiring an additional 10,097 shares in the last quarter. Empowered Funds LLC increased its stake in Starbucks by 306.2% in the first quarter. Empowered Funds LLC now owns 59,019 shares of the coffee company’s stock valued at $5,394,000 after acquiring an additional 44,491 shares during the last quarter. SG Americas Securities LLC raised its position in Starbucks by 161.7% during the first quarter. SG Americas Securities LLC now owns 147,683 shares of the coffee company’s stock valued at $13,497,000 after purchasing an additional 91,255 shares in the last quarter. Finally, PFG Advisors boosted its holdings in shares of Starbucks by 43.0% in the 1st quarter. PFG Advisors now owns 3,212 shares of the coffee company’s stock worth $294,000 after purchasing an additional 966 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Starbucks

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Bank of America lowered their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Trading Up 0.0 %

Shares of SBUX opened at $96.12 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm’s 50-day moving average price is $95.99 and its 200-day moving average price is $85.67. The firm has a market capitalization of $108.92 billion, a price-to-earnings ratio of 29.04, a PEG ratio of 2.81 and a beta of 0.97.

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

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders 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 of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.54%. Starbucks’s dividend payout ratio is 73.72%.

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.