United Services Automobile Association Sells 55,446 Shares of Starbucks Co. (NASDAQ:SBUX)

United Services Automobile Association trimmed its stake in Starbucks Co. (NASDAQ:SBUX) by 23.5% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 180,608 shares of the coffee company’s stock after selling 55,446 shares during the period. United Services Automobile Association’s holdings in Starbucks were worth $17,607,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC bought a new stake in Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC grew its position 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 purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth about $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Starbucks during the 2nd quarter valued at approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the 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 $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SBUX shares. Wedbush cut their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. UBS Group raised their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada started coverage on shares of Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target on the stock. Finally, Citigroup raised their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Stock Performance

NASDAQ:SBUX opened at $100.11 on Friday. The stock’s 50-day simple moving average is $98.03 and its 200 day simple moving average is $88.61. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The company has a market cap of $113.50 billion, a P/E ratio of 30.24, a P/E/G ratio of 2.95 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $9.60 billion. During the same period in the previous year, the company earned $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities analysts predict that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.44%. The ex-dividend date was Friday, November 15th. Starbucks’s payout ratio is currently 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.