Zevin Asset Management LLC cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,285 shares of the coffee company’s stock after selling 250 shares during the quarter. Zevin Asset Management LLC’s holdings in Starbucks were worth $467,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Enterprise Trust & Investment Co bought a new stake in shares of Starbucks during the second quarter valued at approximately $25,000. 1 North Wealth Services LLC bought a new stake in shares of Starbucks during the third quarter valued at approximately $30,000. Northern Oak Wealth Management Inc. increased its position in shares of Starbucks by 95.7% during the second quarter. Northern Oak Wealth Management Inc. now owns 362 shares of the coffee company’s stock valued at $31,000 after purchasing an additional 177 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in shares of Starbucks during the second quarter valued at approximately $32,000. Finally, Candriam Luxembourg S.C.A. grew its position in Starbucks by 3.9% in the third quarter. Candriam Luxembourg S.C.A. now owns 373,364 shares of the coffee company’s stock valued at $33,000 after acquiring an additional 14,069 shares during the period. Institutional investors own 70.68% of the company’s stock.
Shares of SBUX stock traded down $0.18 during trading hours on Friday, hitting $81.77. 7,054,700 shares of the company’s stock were exchanged, compared to its average volume of 8,267,584. The stock has a market cap of $98.02 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 2.03 and a beta of 0.53. Starbucks Co. has a 52 week low of $60.42 and a 52 week high of $99.72. The stock’s 50-day moving average is $85.72 and its 200-day moving average is $86.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 13th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.01%. This is an increase from Starbucks’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Tuesday, November 12th. Starbucks’s dividend payout ratio (DPR) is currently 50.88%.
A number of analysts have weighed in on the company. Wedbush reiterated a “neutral” rating on shares of Starbucks in a research report on Thursday, October 31st. ValuEngine cut Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. KeyCorp upped their price target on Starbucks from $84.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Stephens upped their price target on Starbucks from $72.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, July 26th. Finally, UBS Group upped their price target on Starbucks from $78.00 to $95.00 and gave the company a “neutral” rating in a research report on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $89.64.
In other Starbucks news, EVP Vivek C. Varma sold 21,128 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $95.86, for a total value of $2,025,330.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Myron E. Ullman III sold 9,973 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $84.79, for a total value of $845,610.67. Following the completion of the transaction, the director now owns 28,407 shares of the company’s stock, valued at $2,408,629.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 112,885 shares of company stock valued at $10,707,543. Corporate insiders own 3.98% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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