BLB&B Advisors LLC Sells 130 Shares of Starbucks Co. (NASDAQ:SBUX)

BLB&B Advisors LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,118 shares of the coffee company’s stock after selling 130 shares during the period. BLB&B Advisors LLC’s holdings in Starbucks were worth $304,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of SBUX. Alexander Labrunerie & CO. Inc. increased its position in Starbucks by 18.3% during the 3rd quarter. Alexander Labrunerie & CO. Inc. now owns 3,943 shares of the coffee company’s stock valued at $384,000 after purchasing an additional 611 shares during the period. Leo Wealth LLC purchased a new position in Starbucks during the third quarter valued at approximately $267,000. Eastern Bank raised its stake in Starbucks by 542.2% in the third quarter. Eastern Bank now owns 17,918 shares of the coffee company’s stock worth $1,747,000 after buying an additional 15,128 shares in the last quarter. Xcel Wealth Management LLC purchased a new stake in Starbucks during the third quarter worth $465,000. Finally, Graybill Wealth Management LTD. boosted its position in Starbucks by 0.3% during the 3rd quarter. Graybill Wealth Management LTD. now owns 42,295 shares of the coffee company’s stock valued at $4,123,000 after acquiring an additional 145 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup decreased their price target on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday. Barclays lifted their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 14th. Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Trading Up 0.9 %

Shares of NASDAQ SBUX opened at $97.65 on Thursday. The stock has a market cap of $110.61 billion, a price-to-earnings ratio of 26.90, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a 50 day simple moving average of $95.38 and a two-hundred day simple moving average of $84.89.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for 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 was down .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.00 earnings per share. Analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.50%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is currently 62.81%.

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.