White Pine Investment CO Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

White Pine Investment CO reduced its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,558 shares of the coffee company’s stock after selling 1,003 shares during the quarter. White Pine Investment CO’s holdings in Starbucks were worth $3,856,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Dakota Wealth Management lifted its stake in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares during the period. Fidelis Capital Partners LLC boosted its holdings in shares of Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after buying an additional 1,751 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Starbucks during the 1st quarter valued at $136,000. Great Valley Advisor Group Inc. grew its position in shares of Starbucks by 45.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after buying an additional 5,377 shares during the period. Finally, Cetera Investment Advisers increased its stake in shares of Starbucks by 198.2% in the 1st quarter. Cetera Investment Advisers now owns 543,855 shares of the coffee company’s stock worth $49,703,000 after acquiring an additional 361,489 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on SBUX. UBS Group boosted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

Starbucks Stock Performance

Starbucks stock opened at $98.87 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a fifty day moving average of $95.98 and a 200 day moving average of $85.47. The stock has a market cap of $112.04 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 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 10.40% and a negative return on equity of 46.39%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.06 EPS. As a group, sell-side analysts predict that Starbucks Co. will post 3.42 EPS for the current fiscal 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. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is 73.72%.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’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 completion of the sale, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 directly owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was 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 of the company’s stock, valued at approximately $5,697,682.32. This trade represents 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 company insiders.

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.