Northeast Investment Management Sells 374 Shares of Starbucks Co. (NASDAQ:SBUX)

Northeast Investment Management reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,024 shares of the coffee company’s stock after selling 374 shares during the quarter. Northeast Investment Management’s holdings in Starbucks were worth $782,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Riverview Trust Co lifted its position in shares of Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after buying an additional 105 shares during the last quarter. DT Investment Partners LLC lifted its position in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the last quarter. Childress Capital Advisors LLC lifted its position in shares of Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after buying an additional 126 shares during the last quarter. Keystone Wealth Services LLC lifted its position in shares of Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after buying an additional 130 shares during the last quarter. Finally, Chicago Capital LLC raised its position in Starbucks by 0.6% in the third quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock valued at $2,060,000 after purchasing an additional 132 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, 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 SEC, which is available through the SEC website. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, 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 SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired 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 owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

SBUX has been the subject of several research reports. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. BMO Capital Markets increased their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Finally, Barclays dropped their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Stock Up 1.2 %

Shares of SBUX opened at $98.87 on Monday. The business’s fifty day moving average is $95.98 and its 200 day moving average is $85.46. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market cap of $112.04 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.66 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the business earned $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. 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 yield of 2.47%. Starbucks’s dividend payout ratio (DPR) 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.