D.A. Davidson & CO. Sells 96,662 Shares of Starbucks Co. (NASDAQ:SBUX)

D.A. Davidson & CO. decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 33.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 195,698 shares of the coffee company’s stock after selling 96,662 shares during the quarter. D.A. Davidson & CO.’s holdings in Starbucks were worth $19,079,000 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. FMR LLC lifted its holdings in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Fisher Asset Management LLC increased its position in Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after buying an additional 327,734 shares during the period. Legal & General Group Plc lifted its holdings in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after buying an additional 221,718 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after acquiring an additional 2,324,847 shares during the period. Finally, Swiss National Bank grew its stake in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after acquiring an additional 9,900 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Activity

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

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wells Fargo & Company lifted their price objective on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research note on Tuesday. Bank of America dropped their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Redburn Atlantic reissued a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Stock Down 0.6 %

NASDAQ SBUX opened at $101.84 on Tuesday. The company has a market cap of $115.47 billion, a price-to-earnings ratio of 30.77, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The business’s fifty day moving average is $97.22 and its 200 day moving average is $87.38.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders 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 2.40%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is 73.72%.

Starbucks Company 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.