Stevens Capital Partners Sells 153 Shares of Starbucks Co. (NASDAQ:SBUX)

Stevens Capital Partners decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,810 shares of the coffee company’s stock after selling 153 shares during the quarter. Stevens Capital Partners’ holdings in Starbucks were worth $371,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the 2nd quarter valued at $26,000. Stephens Consulting LLC grew its position in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at $31,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Wedbush reduced their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Two 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $103.32.

Starbucks Stock Up 1.2 %

Starbucks stock traded up $1.17 during midday trading on Friday, reaching $98.87. The stock had a trading volume of 8,860,191 shares, compared to its average volume of 7,444,304. The firm’s 50-day moving average price is $95.98 and its 200 day moving average price is $85.47. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm has a market capitalization of $112.04 billion, a PE ratio of 29.87, a P/E/G ratio of 2.66 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Equities research analysts expect that Starbucks Co. will post 3.42 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 given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. Starbucks’s dividend payout ratio is currently 68.88%.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated 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 completion of 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated 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 completion of 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 ownership of the stock. The purchase 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 business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.