Starbucks Corporation $SBUX Shares Sold by Level Four Advisory Services LLC

Level Four Advisory Services LLC lowered its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,051 shares of the coffee company’s stock after selling 1,077 shares during the period. Level Four Advisory Services LLC’s holdings in Starbucks were worth $6,236,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Nuveen LLC purchased a new position in shares of Starbucks during the first quarter worth about $1,379,619,000. Polen Capital Management LLC acquired a new stake in Starbucks during the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. grew its stake in shares of Starbucks by 59.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after purchasing an additional 3,589,537 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after purchasing an additional 3,545,655 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Starbucks by 22.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,578,977 shares of the coffee company’s stock worth $511,202,000 after purchasing an additional 1,026,056 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on SBUX. TD Cowen reiterated a “hold” rating and issued a $84.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. Dbs Bank downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Piper Sandler dropped their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Loop Capital set a $165.00 price objective on shares of Starbucks in a research report on Tuesday, August 12th. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. One investment 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Stock Up 0.4%

Shares of NASDAQ SBUX opened at $87.04 on Friday. The stock has a market capitalization of $98.97 billion, a price-to-earnings ratio of 53.07, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The firm has a 50-day moving average price of $84.06 and a 200 day moving average price of $87.71.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (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 company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same period last year, the business posted $0.80 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a dividend of $0.62 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend was Friday, November 14th. Starbucks’s payout ratio is presently 151.22%.

Insider Buying and Selling

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

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.