Gradient Investments LLC Reduces Stock Position in Starbucks Corporation $SBUX

Gradient Investments LLC decreased its position in Starbucks Corporation (NASDAQ:SBUX) by 25.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 273,379 shares of the coffee company’s stock after selling 93,846 shares during the quarter. Gradient Investments LLC’s holdings in Starbucks were worth $23,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SBUX. Game Plan Financial Advisors LLC purchased a new position in shares of Starbucks during the second quarter valued at approximately $25,000. Transce3nd LLC raised its holdings in Starbucks by 270.3% in the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Chelsea Counsel Co. purchased a new position in shares of Starbucks during the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC lifted its stake in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the period. Finally, MTM Investment Management LLC acquired a new stake in shares of Starbucks during the second quarter worth $28,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp bought 11,700 shares of Starbucks stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the purchase, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.09% of the stock is currently owned by insiders.

Starbucks Price Performance

Shares of SBUX opened at $85.08 on Wednesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The stock has a market cap of $96.74 billion, a PE ratio of 51.88, a P/E/G ratio of 1.74 and a beta of 0.98. The stock’s 50-day moving average is $84.14 and its two-hundred day moving average is $87.70.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The company had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period last year, the firm posted $0.80 earnings per share. The business’s revenue was up 5.5% on a year-over-year basis. On average, research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio (DPR) is 151.22%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBUX. Morgan Stanley set a $105.00 target price on Starbucks and gave the stock an “overweight” rating in a research report on Monday, October 20th. BTIG Research restated a “buy” rating and set a $105.00 price target on shares of Starbucks in a research note on Thursday, October 30th. Citigroup cut their price objective on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. Finally, Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.44.

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.