Starbucks Corporation $SBUX Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 4.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 194,570 shares of the coffee company’s stock after selling 8,270 shares during the period. D.A. Davidson & CO.’s holdings in Starbucks were worth $16,461,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Starbucks in the second quarter valued at about $1,246,316,000. Corient Private Wealth LLC grew its position in Starbucks by 146.6% in the second quarter. Corient Private Wealth LLC now owns 6,049,192 shares of the coffee company’s stock valued at $553,201,000 after acquiring an additional 3,596,014 shares in the last quarter. Invesco Ltd. raised its stake in shares of Starbucks by 11.2% during the second quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock valued at $1,169,011,000 after purchasing an additional 1,286,451 shares during the period. California Public Employees Retirement System lifted its position in shares of Starbucks by 68.0% during the second quarter. California Public Employees Retirement System now owns 3,027,814 shares of the coffee company’s stock worth $277,439,000 after purchasing an additional 1,225,447 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Starbucks by 22.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 5,578,977 shares of the coffee company’s stock worth $511,202,000 after purchasing an additional 1,026,056 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Starbucks stock opened at $86.56 on Tuesday. Starbucks Corporation has a 12 month low of $75.50 and a 12 month high of $117.46. The company has a fifty day moving average price of $84.74 and a two-hundred day moving average price of $87.18. The company has a market cap of $98.43 billion, a PE ratio of 52.78, a P/E/G ratio of 1.76 and a beta of 0.97.

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 analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The business’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 EPS. Equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently issued reports on SBUX. Mizuho raised shares of Starbucks to a “hold” rating in a research note on Tuesday, October 28th. TD Cowen restated a “hold” rating and set a $84.00 target price on shares of Starbucks in a research note on Monday, December 1st. Zacks Research lowered Starbucks from a “hold” rating to a “strong sell” rating in a research report on Monday, December 29th. BTIG Research reiterated a “buy” rating and issued a $105.00 price target on shares of Starbucks in a research note on Thursday, October 30th. Finally, UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $101.44.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 11,700 shares of Starbucks stock in a transaction that occurred on Monday, November 10th. The stock was acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.