Advisors Asset Management Inc. Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Advisors Asset Management Inc. decreased its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 19.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,464 shares of the coffee company's stock after selling 38,065 shares during the period. Advisors Asset Management Inc.'s holdings in Starbucks were worth $15,644,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Riverview Trust Co raised 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 valued at $312,000 after purchasing an additional 105 shares during the period. Essex Savings Bank lifted its position in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company's stock valued at $707,000 after acquiring an additional 112 shares in the last quarter. DT Investment Partners LLC boosted its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock worth $42,000 after acquiring an additional 121 shares during the period. Childress Capital Advisors LLC grew its position in shares of Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company's stock worth $266,000 after purchasing an additional 126 shares in the last quarter. Finally, Keystone Wealth Services LLC raised its stake in Starbucks by 1.3% during the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company's stock valued at $990,000 after purchasing an additional 130 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Down 0.1 %

SBUX stock traded down $0.09 during trading on Wednesday, reaching $98.26. 7,526,552 shares of the stock were exchanged, compared to its average volume of 11,104,876. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $104.68. The firm has a market capitalization of $111.35 billion, a price-to-earnings ratio of 29.71, a P/E/G ratio of 2.85 and a beta of 0.97. The business has a 50 day moving average price of $97.01 and a 200-day moving average price of $86.62.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its 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 company had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. During the same period last year, the business posted $1.06 EPS. Starbucks'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 3.15 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. This is an increase from Starbucks's previous quarterly dividend of $0.57. Starbucks's payout ratio is presently 73.72%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company's stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company's stock.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research reports. Citigroup upped their target price on shares of Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. TD Cowen reaffirmed a "buy" rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 13th. Sanford C. Bernstein upgraded shares of Starbucks from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Finally, BMO Capital Markets lifted their price target 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of "Moderate Buy" and a consensus target price of $102.81.

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.