Commerzbank Aktiengesellschaft FI Cuts Stake in Starbucks Co. (NASDAQ:SBUX)

Commerzbank Aktiengesellschaft FI lessened its holdings in Starbucks Co. (NASDAQ:SBUX) by 22.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 43,405 shares of the coffee company’s stock after selling 12,837 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Starbucks were worth $4,232,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Fidelis Capital Partners LLC grew its stake in Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares in the last quarter. AMI Asset Management Corp increased its position in shares of Starbucks by 2.8% in the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock valued at $33,384,000 after purchasing an additional 10,092 shares during the last quarter. LRI Investments LLC purchased a new stake in Starbucks during the 1st quarter worth about $136,000. BNP Paribas acquired a new stake in Starbucks during the first quarter worth approximately $9,332,000. Finally, Great Valley Advisor Group Inc. increased its position in shares of Starbucks by 45.8% during the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after purchasing an additional 5,377 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Stifel Nicolaus lowered their target price on Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a report on Wednesday. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Finally, Barclays upped their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $102.08.

Starbucks Stock Down 2.3 %

NASDAQ:SBUX opened at $94.56 on Wednesday. The business’s 50 day moving average is $95.31 and its two-hundred day moving average is $84.80. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The company has a market cap of $107.11 billion, a PE ratio of 25.63, a P/E/G ratio of 2.14 and a beta of 0.97.

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 for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter last year, the company earned $1.00 EPS. As a group, sell-side analysts expect that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.58%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 62.81%.

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.