Cascade Investment Advisors Inc. Has $443,000 Stock Holdings in Starbucks Corporation $SBUX

Cascade Investment Advisors Inc. trimmed its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 74.6% in the third quarter, Holdings Channel.com reports. The fund owned 5,235 shares of the coffee company’s stock after selling 15,393 shares during the quarter. Cascade Investment Advisors Inc.’s holdings in Starbucks were worth $443,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Game Plan Financial Advisors LLC bought a new position in Starbucks during the second quarter worth about $25,000. Transce3nd LLC grew its stake in shares of Starbucks by 270.3% in the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Chelsea Counsel Co. acquired a new position in shares of Starbucks in the 2nd quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC lifted its position in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. Finally, MTM Investment Management LLC bought a new position in shares of Starbucks during the 2nd quarter worth approximately $28,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.2%

SBUX opened at $88.33 on Friday. Starbucks Corporation has a 1-year low of $75.50 and a 1-year high of $117.46. The stock has a market capitalization of $100.44 billion, a PE ratio of 53.86, a PEG ratio of 1.82 and a beta of 0.98. The firm has a 50-day moving average price of $84.63 and a two-hundred day moving average price of $87.72.

Starbucks (NASDAQ:SBUX) last announced 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). The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.Starbucks’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. On average, research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Friday, February 13th will be paid a $0.62 dividend. This represents a $2.48 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the business’s stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. The trade was a 28.26% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. Piper Sandler lowered their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. UBS Group set a $94.00 target price on shares of Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Dbs Bank cut shares of Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. TD Cowen reissued a “hold” rating and set a $84.00 price target on shares of Starbucks in a report on Monday, December 1st. Finally, Morgan Stanley set a $105.00 price objective on shares of Starbucks and gave the stock an “overweight” rating in a research note on Monday, October 20th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.