Bristlecone Advisors LLC Sells 2,114 Shares of Starbucks Co. (NASDAQ:SBUX)

Bristlecone Advisors LLC lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,627 shares of the coffee company’s stock after selling 2,114 shares during the quarter. Bristlecone Advisors LLC’s holdings in Starbucks were worth $7,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. Vanguard Group Inc. boosted its stake in Starbucks by 0.4% during the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares during the period. Legal & General Group Plc lifted its holdings in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after acquiring an additional 221,718 shares during the last quarter. Flossbach Von Storch AG boosted its stake in shares of Starbucks by 106.7% during the 1st 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. Nordea Investment Management AB raised its position in Starbucks by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after purchasing an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board purchased a new stake in Starbucks in the 1st quarter worth about $415,167,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock opened at $97.31 on Friday. The business’s 50 day moving average price is $95.48 and its 200 day moving average price is $85.03. The company has a market cap of $110.22 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

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

Starbucks Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SBUX. Barclays boosted their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday. BTIG Research boosted their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% 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.