Banque Cantonale Vaudoise Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Banque Cantonale Vaudoise boosted its position in Starbucks Co. (NASDAQ:SBUX) by 79.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,000 shares of the coffee company’s stock after purchasing an additional 12,394 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Starbucks were worth $2,730,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of SBUX. Dakota Wealth Management boosted its holdings in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after acquiring an additional 300 shares during the last quarter. Weil Company Inc. raised its stake in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the period. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the period. Aljian Capital Management LLC grew its position in shares of Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after buying an additional 9,900 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 2.0 %

NASDAQ SBUX opened at $98.35 on Wednesday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $105.47. The company has a market capitalization of $111.45 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.85 and a beta of 0.97. The firm has a 50-day moving average price of $97.01 and a two-hundred day moving average price of $86.62.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.06 earnings per share. Equities analysts expect that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business 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 dividend of $0.61 per share. 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 dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is currently 73.72%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SBUX shares. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Royal Bank of Canada began coverage on shares of Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 target price for the company. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Redburn Atlantic restated a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Finally, BMO Capital Markets boosted their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % 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.

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.