Joel Isaacson & Co. LLC Sells 1,332 Shares of Starbucks Co. (NASDAQ:SBUX)

Joel Isaacson & Co. LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 14.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,797 shares of the coffee company’s stock after selling 1,332 shares during the quarter. Joel Isaacson & Co. LLC’s holdings in Starbucks were worth $760,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of SBUX. North Ridge Wealth Advisors Inc. bought a new position in Starbucks in the third quarter valued at approximately $217,000. Pavion Blue Capital LLC increased its stake in shares of Starbucks by 14.8% in the 3rd quarter. Pavion Blue Capital LLC now owns 11,854 shares of the coffee company’s stock valued at $1,156,000 after purchasing an additional 1,526 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of Starbucks by 93.7% during the 3rd quarter. Mediolanum International Funds Ltd now owns 27,977 shares of the coffee company’s stock worth $2,719,000 after buying an additional 13,534 shares in the last quarter. Financial Management Network Inc. bought a new stake in shares of Starbucks during the 3rd quarter worth $303,000. Finally, Blackston Financial Advisory Group LLC acquired a new stake in Starbucks in the third quarter valued at about $234,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 0.2 %

SBUX stock opened at $97.31 on Friday. The firm has a market cap of $110.22 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. The stock has a 50-day moving average price of $95.48 and a 200-day moving average price of $85.05. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

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

Starbucks Increases Dividend

The business also recently announced 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 represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 67.22%.

Analysts Set New Price Targets

SBUX has been the subject of several research analyst reports. Morgan Stanley boosted their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. UBS Group upped their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday. BTIG Research raised their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Citigroup dropped their price target on Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday. Two investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.48.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction 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 of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $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 owned by insiders.

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.