Hudson Valley Investment Advisors Inc. ADV Sells 8,113 Shares of Starbucks Co. (NASDAQ:SBUX)

Hudson Valley Investment Advisors Inc. ADV decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.7% in the third quarter, Holdings Channel reports. The firm owned 67,804 shares of the coffee company’s stock after selling 8,113 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Starbucks were worth $6,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the second quarter worth about $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $26,000. Stephens Consulting LLC raised its stake in shares of 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 acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.1 %

SBUX opened at $97.32 on Thursday. The stock has a market capitalization of $110.28 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.59 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The firm’s fifty day simple moving average is $95.77 and its 200 day simple moving average is $85.28.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.24). The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.06 earnings per share. On average, equities research analysts predict that Starbucks Co. will post 3.34 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. Investors of record on Friday, November 15th will be given a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 68.35%.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’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 sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $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. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. BMO Capital Markets lifted their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Citigroup lowered their price target on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Two equities 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 company’s stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

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.