Starbucks Corporation $SBUX Shares Sold by Avalon Trust Co

Avalon Trust Co decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 34.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,560 shares of the coffee company’s stock after selling 824 shares during the period. Avalon Trust Co’s holdings in Starbucks were worth $143,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SBUX. Nuveen LLC acquired a new position in Starbucks in the 1st quarter worth about $1,379,619,000. Jennison Associates LLC purchased a new stake in shares of Starbucks in the first quarter valued at approximately $817,759,000. Polen Capital Management LLC acquired a new position in shares of Starbucks during the 1st quarter worth approximately $503,539,000. Goldman Sachs Group Inc. lifted its position in shares of Starbucks by 59.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after buying an additional 3,589,537 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Starbucks by 22.3% in the 1st quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after acquiring an additional 3,545,655 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Bank of America upped their price objective on shares of Starbucks from $101.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. JPMorgan Chase & Co. upped their price target on shares of Starbucks from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Starbucks in a research note on Wednesday, October 8th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. Finally, Morgan Stanley set a $105.00 target price on Starbucks and gave the company an “overweight” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Stock Performance

NASDAQ:SBUX opened at $86.44 on Friday. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46. The stock has a market cap of $98.26 billion, a PE ratio of 52.71, a P/E/G ratio of 4.28 and a beta of 1.02. The stock has a 50 day moving average price of $83.77 and a 200 day moving average price of $87.55.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter in the previous year, the company earned $0.80 earnings per share. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. The ex-dividend date is Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the acquisition, the director directly owned 53,096 shares of the company’s stock, valued at $4,513,160. This trade represents a 28.26% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is owned by company insiders.

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.