Commerce Bank Decreases Stock Position in Starbucks Co. (NASDAQ:SBUX)

Commerce Bank trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 8.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,883 shares of the coffee company's stock after selling 11,928 shares during the quarter. Commerce Bank's holdings in Starbucks were worth $13,052,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SBUX. Strategy Asset Managers LLC increased its holdings in Starbucks by 18.8% in the third quarter. Strategy Asset Managers LLC now owns 5,856 shares of the coffee company's stock valued at $571,000 after buying an additional 927 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in Starbucks in the third quarter valued at approximately $8,832,000. Prospera Private Wealth LLC acquired a new position in Starbucks in the third quarter valued at about $307,000. West Family Investments Inc. grew its stake in shares of Starbucks by 21.9% in the third quarter. West Family Investments Inc. now owns 5,068 shares of the coffee company's stock valued at $494,000 after buying an additional 909 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Starbucks by 0.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 955,624 shares of the coffee company's stock valued at $93,164,000 after buying an additional 5,930 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of Starbucks stock traded up $1.71 during trading hours on Thursday, hitting $99.97. The company's stock had a trading volume of 4,088,499 shares, compared to its average volume of 11,085,644. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $104.68. The stock has a 50 day moving average of $97.03 and a 200 day moving average of $86.79. The company has a market capitalization of $113.29 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the company earned $1.06 earnings per share. Starbucks's quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts expect that Starbucks Co. will post 3.15 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. This represents a $2.44 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks's previous quarterly dividend of $0.57. Starbucks's dividend payout ratio (DPR) is 73.72%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SBUX shares. Citigroup upped their price objective on Starbucks from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Wedbush reduced their price target on Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. Robert W. Baird upgraded shares of Starbucks from a "neutral" rating to an "outperform" rating and upped their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Bank of America lowered their price objective 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. Finally, Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $102.81.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company's stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business's stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, 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. Corporate insiders own 1.98% of the company's stock.

Starbucks 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.