Carl P. Sherr & Co. LLC Sells 1,878 Shares of Starbucks Co. (NASDAQ:SBUX)

Carl P. Sherr & Co. LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 11.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,886 shares of the coffee company’s stock after selling 1,878 shares during the quarter. Carl P. Sherr & Co. LLC’s holdings in Starbucks were worth $1,354,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of SBUX. FMR LLC boosted its holdings in shares of Starbucks by 55.0% in the third quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Marshall Wace LLP boosted its holdings in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in shares of Starbucks in the second quarter valued at approximately $243,910,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Starbucks by 1,078.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,545,419 shares of the coffee company’s stock valued at $248,153,000 after purchasing an additional 2,329,431 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Citigroup upped their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Wells Fargo & Company upped their target price on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.77.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $101.51 on Friday. The business’s 50-day moving average is $97.50 and its two-hundred day moving average is $87.74. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The company has a market capitalization of $115.09 billion, a P/E ratio of 30.67, a P/E/G ratio of 2.97 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the company posted $1.06 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts forecast that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.40%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is presently 73.72%.

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.