Generali Investments Management Co LLC Decreases Stock Position in Starbucks Corporation $SBUX

Generali Investments Management Co LLC trimmed its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 23.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,206 shares of the coffee company’s stock after selling 984 shares during the quarter. Generali Investments Management Co LLC’s holdings in Starbucks were worth $293,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of SBUX. PUREfi Wealth LLC bought a new position in Starbucks in the 2nd quarter worth about $286,000. Narwhal Capital Management raised its stake in shares of Starbucks by 39.6% during the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after acquiring an additional 9,282 shares in the last quarter. Napa Wealth Management purchased a new stake in shares of Starbucks in the first quarter valued at approximately $1,435,000. Morningstar Investment Management LLC bought a new position in Starbucks in the second quarter worth approximately $653,000. Finally, Pegasus Asset Management Inc. purchased a new position in Starbucks during the 2nd quarter worth $1,289,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Dbs Bank downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Stock Performance

NASDAQ:SBUX opened at $84.78 on Friday. The company’s 50-day simple moving average is $83.76 and its 200-day simple moving average is $87.58. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market capitalization of $96.37 billion, a P/E ratio of 51.70, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. During the same period in the previous year, the company earned $0.80 EPS. The company’s revenue was up 5.5% on a year-over-year basis. On average, research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio is currently 151.22%.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the firm’s stock in a transaction on Monday, November 10th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the purchase, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.09% of the company’s stock.

About Starbucks

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.