Starbucks Co. (NASDAQ:SBUX) Shares Sold by Viewpoint Capital Management LLC

Viewpoint Capital Management LLC decreased its position in Starbucks Co. (NASDAQ:SBUX) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,377 shares of the coffee company’s stock after selling 115 shares during the period. Viewpoint Capital Management LLC’s holdings in Starbucks were worth $426,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SBUX. Ontario Teachers Pension Plan Board purchased a new position in shares of Starbucks in the first quarter valued at $415,167,000. Marshall Wace LLP boosted its position in Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new position in Starbucks during the 2nd quarter worth $243,910,000. Flossbach Von Storch AG boosted its holdings in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Capital World Investors acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $257,721,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SBUX has been the topic of several research analyst reports. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

Starbucks Stock Up 0.2 %

Shares of Starbucks stock traded up $0.16 during trading on Friday, reaching $97.31. The company’s stock had a trading volume of 9,665,550 shares, compared to its average volume of 11,366,117. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The business has a 50 day moving average price of $95.48 and a 200-day moving average price of $85.05. The company has a market capitalization of $110.22 billion, a P/E ratio of 26.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The firm’s quarterly revenue was down .6% compared to the same quarter last year. Research analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 67.22%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% 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.