Starbucks Co. (NASDAQ:SBUX) Shares Sold by First Business Financial Services Inc.

First Business Financial Services Inc. lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 10.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,357 shares of the coffee company’s stock after selling 288 shares during the period. First Business Financial Services Inc.’s holdings in Starbucks were worth $230,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the second quarter valued at $25,000. New Millennium Group LLC acquired a new position in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC lifted its holdings in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks in the second quarter valued at about $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks in the second quarter valued at about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $99.23 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a market capitalization of $112.45 billion, a P/E ratio of 29.98, a P/E/G ratio of 2.89 and a beta of 0.97. The company has a 50-day moving average price of $96.45 and a 200-day moving average price of $86.03.

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

Starbucks Increases Dividend

The business 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. The ex-dividend date of this dividend is Friday, November 15th. 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 2.46%. Starbucks’s dividend payout ratio is 73.72%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Bank of America lowered their price target 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. UBS Group raised their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Finally, Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down from $84.00) on shares of Starbucks in a research note on Wednesday. Three 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.31.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is owned by company insiders.

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.