Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 7,265 Shares of Starbucks Co. (NASDAQ:SBUX)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 898,907 shares of the coffee company’s stock after selling 7,265 shares during the quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned approximately 0.08% of Starbucks worth $87,329,000 as of its most recent SEC filing.

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

Insider Buying and Selling at Starbucks

In other 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 transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of 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 disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Citigroup reduced their price target on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Finally, UBS Group boosted their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Trading Down 0.2 %

Shares of NASDAQ:SBUX traded down $0.17 on Wednesday, reaching $97.22. The company had a trading volume of 789,947 shares, compared to its average volume of 11,276,348. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm’s 50 day simple moving average is $95.68 and its 200-day simple moving average is $85.20. The firm has a market capitalization of $110.17 billion, a PE ratio of 27.28, a PEG ratio of 2.59 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $9.25 billion. During the same quarter in the previous year, the business posted $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. As a group, equities research analysts predict that Starbucks Co. will post 3.34 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. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 68.35%.

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.