Fiera Capital Corp Sells 52,375 Shares of Starbucks Corporation $SBUX

Fiera Capital Corp trimmed its position in Starbucks Corporation (NASDAQ:SBUX) by 93.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,965 shares of the coffee company’s stock after selling 52,375 shares during the quarter. Fiera Capital Corp’s holdings in Starbucks were worth $363,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in SBUX. Allianz SE grew its position in shares of Starbucks by 604.3% during the 2nd quarter. Allianz SE now owns 31,480 shares of the coffee company’s stock worth $2,885,000 after buying an additional 27,010 shares during the period. Breed s Hill Capital LLC boosted its stake in Starbucks by 10.0% in the second quarter. Breed s Hill Capital LLC now owns 2,265 shares of the coffee company’s stock valued at $208,000 after acquiring an additional 206 shares during the last quarter. Police & Firemen s Retirement System of New Jersey boosted its stake in Starbucks by 4.5% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 172,529 shares of the coffee company’s stock valued at $15,809,000 after acquiring an additional 7,491 shares during the last quarter. Horrell Capital Management Inc. grew its holdings in Starbucks by 2.2% during the 2nd quarter. Horrell Capital Management Inc. now owns 27,427 shares of the coffee company’s stock worth $2,513,000 after acquiring an additional 597 shares during the period. Finally, Bailard Inc. raised its position in shares of Starbucks by 35.6% during the 2nd quarter. Bailard Inc. now owns 32,224 shares of the coffee company’s stock valued at $2,953,000 after acquiring an additional 8,457 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SBUX has been the topic of several recent research reports. TD Cowen restated a “hold” rating and issued a $84.00 price target on shares of Starbucks in a research report on Thursday, October 30th. Sanford C. Bernstein set a $100.00 target price on Starbucks and gave the company an “outperform” rating in a research note on Thursday, October 30th. UBS Group set a $94.00 target price on Starbucks and gave the stock a “neutral” rating in a report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Finally, Piper Sandler cut their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Trading Down 1.9%

NASDAQ:SBUX opened at $84.78 on Friday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a 50-day moving average price of $83.76 and a two-hundred day moving average price of $87.58. The stock has a market cap of $96.37 billion, a price-to-earnings ratio of 51.70, a PEG ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter last year, the firm earned $0.80 EPS. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio is currently 151.22%.

Insider Activity

In related news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the transaction, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.09% of the stock is owned by corporate 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.