Starbucks Co. (NASDAQ:SBUX) Shares Sold by Rikoon Group LLC

Rikoon Group LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 53.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,456 shares of the coffee company’s stock after selling 2,765 shares during the quarter. Rikoon Group LLC’s holdings in Starbucks were worth $217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. First American Trust FSB acquired a new position in Starbucks during the second quarter worth $212,000. OneAscent Financial Services LLC bought a new stake in shares of Starbucks in the second quarter valued at about $956,000. KBC Group NV lifted its stake in shares of Starbucks by 30.6% in the second quarter. KBC Group NV now owns 958,914 shares of the coffee company’s stock valued at $80,385,000 after buying an additional 224,640 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Starbucks by 0.5% in the second quarter. Janney Montgomery Scott LLC now owns 209,160 shares of the coffee company’s stock valued at $17,534,000 after buying an additional 1,046 shares during the period. Finally, CWM LLC lifted its stake in shares of Starbucks by 4.8% in the second quarter. CWM LLC now owns 21,200 shares of the coffee company’s stock valued at $1,777,000 after buying an additional 963 shares during the period. Institutional investors own 70.68% of the company’s stock.

In related news, Director Javier G. Teruel sold 59,838 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $96.92, for a total value of $5,799,498.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Myron E. Ullman III sold 9,973 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $96.42, for a total transaction of $961,596.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,885 shares of company stock worth $10,707,543. 3.98% of the stock is owned by company insiders.

Several equities research analysts recently weighed in on SBUX shares. JPMorgan Chase & Co. cut shares of Starbucks from an “overweight” rating to a “neutral” rating in a research note on Monday, July 29th. Wedbush reaffirmed a “neutral” rating on shares of Starbucks in a report on Thursday, October 31st. KeyCorp raised their price objective on shares of Starbucks from $84.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Oppenheimer raised their price objective on shares of Starbucks from $95.00 to $105.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Finally, Robert W. Baird reaffirmed a “hold” rating on shares of Starbucks in a report on Wednesday, September 4th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $89.64.

SBUX stock traded down $0.18 during midday trading on Friday, reaching $81.77. The company’s stock had a trading volume of 7,054,700 shares, compared to its average volume of 8,267,584. Starbucks Co. has a 52 week low of $60.42 and a 52 week high of $99.72. The business’s 50-day simple moving average is $85.72 and its 200-day simple moving average is $86.55. The stock has a market cap of $98.02 billion, a PE ratio of 28.89, a price-to-earnings-growth ratio of 2.03 and a beta of 0.53.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.70 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.70. Starbucks had a net margin of 13.58% and a negative return on equity of 75.45%. The firm had revenue of $6.75 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the previous year, the business earned $0.62 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. Analysts predict that Starbucks Co. will post 3.05 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Wednesday, November 13th will be paid a $0.41 dividend. The ex-dividend date is Tuesday, November 12th. This represents a $1.64 dividend on an annualized basis and a yield of 2.01%. This is a positive change from Starbucks’s previous quarterly dividend of $0.36. Starbucks’s dividend payout ratio is 50.88%.

Starbucks Company Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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