Starbucks Co. (NASDAQ:SBUX) Stock Position Lowered by AdvisorNet Financial Inc

AdvisorNet Financial Inc lessened its position in Starbucks Co. (NASDAQ:SBUXGet Rating) by 39.4% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,814 shares of the coffee company’s stock after selling 5,076 shares during the period. AdvisorNet Financial Inc’s holdings in Starbucks were worth $597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its holdings in shares of Starbucks by 11.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 40,353 shares of the coffee company’s stock valued at $4,720,000 after acquiring an additional 4,294 shares in the last quarter. Level Four Advisory Services LLC raised its holdings in shares of Starbucks by 22.5% during the fourth quarter. Level Four Advisory Services LLC now owns 6,043 shares of the coffee company’s stock worth $707,000 after acquiring an additional 1,109 shares in the last quarter. Gabelli Funds LLC raised its holdings in shares of Starbucks by 3.9% during the fourth quarter. Gabelli Funds LLC now owns 51,950 shares of the coffee company’s stock worth $6,077,000 after acquiring an additional 1,950 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Starbucks by 2.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 14,881 shares of the coffee company’s stock worth $1,741,000 after acquiring an additional 301 shares in the last quarter. Finally, Hoylecohen LLC raised its holdings in shares of Starbucks by 20.1% during the fourth quarter. Hoylecohen LLC now owns 19,822 shares of the coffee company’s stock worth $2,319,000 after acquiring an additional 3,314 shares in the last quarter. Institutional investors own 67.97% of the company’s stock.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Mellody L. Hobson bought 54,750 shares of the company’s stock in a transaction on Thursday, September 15th. The stock was bought at an average price of $92.58 per share, for a total transaction of $5,068,755.00. Following the transaction, the director now owns 433,254 shares of the company’s stock, valued at approximately $40,110,655.32. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, EVP Zabrina Jenkins sold 4,020 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total value of $373,860.00. Following the completion of the transaction, the executive vice president now owns 36,337 shares of the company’s stock, valued at approximately $3,379,341. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mellody L. Hobson purchased 54,750 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was purchased at an average cost of $92.58 per share, with a total value of $5,068,755.00. Following the acquisition, the director now directly owns 433,254 shares in the company, valued at $40,110,655.32. The disclosure for this purchase can be found here. Corporate insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SBUX. Citigroup raised their target price on Starbucks from $90.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, September 7th. Barclays raised their target price on Starbucks from $96.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, September 14th. Robert W. Baird raised their target price on Starbucks from $86.00 to $94.00 and gave the company a “neutral” rating in a report on Wednesday, September 14th. UBS Group raised their target price on Starbucks from $82.00 to $87.00 and gave the company a “neutral” rating in a report on Wednesday, August 3rd. Finally, Fubon Bank upgraded Starbucks from a “neutral” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Wednesday, September 14th. Fifteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $104.71.

Starbucks Price Performance

SBUX stock opened at $91.31 on Monday. The company has a 50 day moving average price of $85.13 and a 200 day moving average price of $81.42. Starbucks Co. has a fifty-two week low of $68.39 and a fifty-two week high of $117.80. The stock has a market capitalization of $104.77 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 2.46 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same period in the previous year, the firm posted $1.01 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.88 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s payout ratio is 55.21%.

Starbucks Profile

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

See Also

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUXGet Rating).

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.