Jeppson Wealth Management LLC Trims Holdings in Starbucks Co. (NASDAQ:SBUX)

Jeppson Wealth Management LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,730 shares of the coffee company’s stock after selling 617 shares during the quarter. Jeppson Wealth Management LLC’s holdings in Starbucks were worth $656,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC grew its stake in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth $27,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 2.8 %

Shares of NASDAQ:SBUX opened at $100.31 on Tuesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a 50 day moving average of $96.07 and a two-hundred day moving average of $85.77. The company has a market capitalization of $113.67 billion, a price-to-earnings ratio of 30.31, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the company earned $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Co. will post 3.15 earnings per share 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 represents a $2.44 dividend on an annualized basis and a dividend yield of 2.43%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Stifel Nicolaus increased their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, Morgan Stanley increased their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $103.32.

Insider Transactions at Starbucks

In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’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 transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased 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 directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate 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.