Signaturefd LLC Sells 1,167 Shares of Starbucks Co. (NASDAQ:SBUX)

Signaturefd LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,436 shares of the coffee company’s stock after selling 1,167 shares during the quarter. Signaturefd LLC’s holdings in Starbucks were worth $2,577,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks during the 1st quarter worth $415,167,000. Marshall Wace LLP lifted its holdings in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $243,910,000. Flossbach Von Storch AG grew its holdings in shares of Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors acquired a new position in Starbucks during the 1st quarter worth approximately $257,721,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Starbucks

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

Starbucks Trading Up 0.4 %

Shares of NASDAQ SBUX opened at $96.82 on Wednesday. The firm has a market capitalization of $109.67 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.14 and a beta of 0.97. The firm’s 50-day moving average price is $95.31 and its 200-day moving average price is $84.80. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. Equities research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.52%. Starbucks’s dividend payout ratio (DPR) is 62.81%.

Analyst Ratings Changes

A number of research firms have weighed in on SBUX. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $80.00 to $110.00 in a research report on Wednesday, August 14th. BMO Capital Markets increased their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Citigroup boosted their price target on Starbucks from $98.00 to $99.00 and gave the stock a “neutral” rating in a report on Tuesday, October 8th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.40.

Starbucks Company 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.