Dearborn Partners LLC Has $5.34 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Dearborn Partners LLC lowered its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 17.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 54,800 shares of the coffee company’s stock after selling 11,408 shares during the period. Dearborn Partners LLC’s holdings in Starbucks were worth $5,342,000 as of its most recent filing with the SEC.

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

Starbucks Stock Performance

NASDAQ:SBUX opened at $99.23 on Friday. The company has a market cap of $112.45 billion, a PE ratio of 29.98, a PEG ratio of 2.89 and a beta of 0.97. The stock has a 50-day simple moving average of $96.45 and a 200 day simple moving average of $86.03. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced 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 net margin of 10.40% and a negative return on equity of 46.39%. The business 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 posted $1.06 earnings per share. The firm’s revenue was down 3.2% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a boost 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 68.88%.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays lowered their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Bank of America decreased their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.31.

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.