Golden State Equity Partners Sells 719 Shares of Starbucks Co. (NASDAQ:SBUX)

Golden State Equity Partners lessened its position in Starbucks Co. (NASDAQ:SBUX) by 17.6% during the third quarter, Holdings Channel reports. The fund owned 3,375 shares of the coffee company’s stock after selling 719 shares during the period. Golden State Equity Partners’ holdings in Starbucks were worth $329,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter valued at about $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC grew its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks during the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $97.70 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm has a market cap of $110.71 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 2.59 and a beta of 0.97. The company has a 50-day moving average of $95.88 and a 200 day moving average of $85.37.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period last year, the business earned $1.06 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 3.34 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. Starbucks’s dividend payout ratio (DPR) is presently 68.35%.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction 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 purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research note on Wednesday, August 21st. Finally, TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Wednesday, October 23rd. Two equities research 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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

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.