Audent Global Asset Management LLC Has $413,000 Position in Starbucks Co. (NASDAQ:SBUX)

Audent Global Asset Management LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 59.6% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,238 shares of the coffee company’s stock after selling 6,254 shares during the period. Audent Global Asset Management LLC’s holdings in Starbucks were worth $413,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SBUX. FMR LLC raised its position in shares of Starbucks by 55.0% during the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after buying an additional 7,015,375 shares during the last quarter. Marshall Wace LLP raised its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in shares of Starbucks during the second quarter valued at about $243,910,000. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Starbucks by 1,078.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after buying an additional 2,329,431 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $102.46 on Monday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The company’s 50 day simple moving average is $97.63 and its 200-day simple moving average is $88.10. The stock has a market capitalization of $116.17 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. Starbucks’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts anticipate that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.38%. The ex-dividend date was Friday, November 15th. Starbucks’s dividend payout ratio is currently 73.72%.

Analyst Ratings Changes

A number of analysts recently weighed in on SBUX shares. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. UBS Group upped their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Royal Bank of Canada started coverage on shares of Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price on the stock. Finally, Stifel Nicolaus upped their target price on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

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.