Dearborn Partners LLC Has $5.34 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Dearborn Partners LLC decreased its position in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 17.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,800 shares of the coffee company's stock after selling 11,408 shares during the quarter. Dearborn Partners LLC's holdings in Starbucks were worth $5,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the 2nd quarter valued at approximately $25,000. New Millennium Group LLC bought a new stake in Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC raised its stake in Starbucks by 498.2% during the 2nd 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 period. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Starbucks during the 2nd quarter worth about $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on SBUX shares. Citigroup increased their price target 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. UBS Group upped their target price on Starbucks from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Starbucks from a "hold" rating to an "underperform" rating and dropped their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Piper Sandler raised shares of Starbucks from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.81.

Starbucks Trading Down 0.8 %

SBUX traded down $0.77 during midday trading on Friday, reaching $98.46. The company's stock had a trading volume of 5,456,851 shares, compared to its average volume of 11,135,981. The stock has a market cap of $111.57 billion, a P/E ratio of 30.16, a PEG ratio of 2.89 and a beta of 0.97. The company has a fifty day simple moving average of $96.60 and a 200 day simple moving average of $86.12. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business's revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.06 EPS. Sell-side analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. This is an increase from Starbucks's previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. Starbucks's dividend payout ratio (DPR) is currently 73.72%.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated 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 completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.98% of the stock is owned by corporate insiders.

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.