ING Groep NV Cuts Position in Starbucks Co. (NASDAQ:SBUX)

ING Groep NV decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 90.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,130 shares of the coffee company's stock after selling 970,166 shares during the period. ING Groep NV's holdings in Starbucks were worth $9,567,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company's stock worth $9,907,020,000 after acquiring an additional 470,498 shares in the last quarter. Legal & General Group Plc lifted its position in Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company's stock valued at $678,923,000 after buying an additional 221,718 shares during the period. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks during the 1st quarter valued at $415,167,000. Van ECK Associates Corp increased its stake in shares of Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company's stock worth $348,391,000 after acquiring an additional 2,324,847 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company's stock valued at $260,870,000 after acquiring an additional 3,136,992 shares during the period. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Trading Down 0.2 %

Starbucks stock traded down $0.20 during trading on Friday, reaching $98.42. The company had a trading volume of 8,119,296 shares, compared to its average volume of 11,147,972. The firm's 50-day simple moving average is $96.60 and its 200 day simple moving average is $86.12. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm has a market capitalization of $111.53 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.89 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 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 firm had revenue of $9.07 billion for the quarter, compared to analysts' expectations of $9.60 billion. During the same period in the previous year, the firm earned $1.06 EPS. The business's quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts predict that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

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

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company's stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.98% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SBUX. Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 13th. BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Morgan Stanley increased their target price on Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 16th. Wedbush lowered their price target on Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus increased their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $102.81.

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.