Argent Capital Management LLC Trims Position in Starbucks Co. (NASDAQ:SBUX)

Argent Capital Management LLC lowered its position in Starbucks Co. (NASDAQ:SBUX) by 19.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,455 shares of the coffee company’s stock after selling 1,348 shares during the quarter. Argent Capital Management LLC’s holdings in Starbucks were worth $532,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Vanguard Group Inc. increased its holdings in shares of Starbucks by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares during the period. Flossbach Von Storch AG increased its position in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Starbucks by 5.2% in the 1st quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock valued at $495,145,000 after acquiring an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks in the 1st quarter worth approximately $415,167,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly 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. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.8 %

Shares of SBUX stock traded up $0.79 on Thursday, hitting $98.44. 4,136,827 shares of the stock were exchanged, compared to its average volume of 11,346,751. The firm has a market capitalization of $111.55 billion, a PE ratio of 27.64, a P/E/G ratio of 2.14 and a beta of 0.97. The firm’s 50 day moving average is $95.38 and its two-hundred day moving average is $84.89. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced 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. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. During the same period in the prior year, the firm posted $1.00 earnings per share. The company’s revenue for the quarter was down .6% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

The business 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. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 63.87%.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Citigroup cut their price objective on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Finally, BMO Capital Markets boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $102.48.

Starbucks 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.