Kavar Capital Partners Group LLC Sells 1,724 Shares of Starbucks Co. (NASDAQ:SBUX)

Kavar Capital Partners Group LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,638 shares of the coffee company’s stock after selling 1,724 shares during the period. Kavar Capital Partners Group LLC’s holdings in Starbucks were worth $5,424,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Legal & General Group Plc raised its position 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 purchasing an additional 221,718 shares during the last quarter. Flossbach Von Storch AG raised its position in shares of Starbucks by 106.7% in 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 last quarter. Nordea Investment Management AB raised its position in shares of 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 last quarter. Finally, Ontario Teachers Pension Plan Board purchased a new position in Starbucks in the 1st quarter worth about $415,167,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SBUX. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Wedbush reissued a “neutral” rating and issued a $80.00 target price on shares of Starbucks in a research report on Tuesday, August 13th. Finally, Barclays boosted their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Stock Performance

NASDAQ SBUX opened at $97.31 on Friday. The company has a market capitalization of $110.22 billion, a P/E ratio of 26.81, a P/E/G 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. The stock has a 50 day moving average price of $95.48 and a 200-day moving average price of $85.03.

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

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is currently 67.22%.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 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 directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired 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 in the company, valued at $3,316,143. This trade represents 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 Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks Company 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.