Starbucks Co. (NASDAQ:SBUX) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 18.4% during the third quarter, Holdings Channel.com reports. The firm owned 10,723 shares of the coffee company’s stock after selling 2,416 shares during the period. Baker Tilly Wealth Management LLC’s holdings in Starbucks were worth $1,045,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new position in Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC increased its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks during the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in Starbucks in the second quarter valued at $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

SBUX stock opened at $97.38 on Monday. The company has a 50 day moving average price of $95.48 and a two-hundred day moving average price of $85.03. The stock has a market capitalization of $110.35 billion, a P/E ratio of 27.26, a PEG ratio of 2.59 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one 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, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.00 earnings per share. Research analysts forecast that Starbucks Co. will post 3.34 earnings per share for the current fiscal 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 $0.61 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is currently 63.87%.

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 transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction dated 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 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 legal filing with the SEC, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was purchased 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 approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SBUX. Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, October 23rd. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $102.48.

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.