Starbucks Co. (NASDAQ:SBUX) Shares Sold by Sigma Investment Counselors Inc.

Sigma Investment Counselors Inc. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,515 shares of the coffee company’s stock after selling 263 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Starbucks were worth $245,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks in the second quarter worth $25,000. New Millennium Group LLC purchased a new position in Starbucks in the second quarter worth $26,000. Stephens Consulting LLC raised its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in Starbucks in the second quarter worth $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks in the second quarter worth $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Stifel Nicolaus dropped their price target on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Wedbush restated a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Trading Up 0.2 %

Shares of NASDAQ:SBUX opened at $97.31 on Friday. The stock’s 50-day moving average price is $95.48 and its two-hundred day moving average price is $85.05. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market cap of $110.22 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $1.00 EPS. As a group, research analysts forecast that Starbucks Co. will post 3.55 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 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is currently 67.22%.

Insider Activity

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

About Starbucks

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.