KBC Group NV Sells 7,829 Shares of Starbucks Co. (NASDAQ:SBUX)

KBC Group NV cut its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 319,661 shares of the coffee company's stock after selling 7,829 shares during the period. KBC Group NV's holdings in Starbucks were worth $31,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC raised its holdings in Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company's stock worth $401,000 after purchasing an additional 385 shares during the last quarter. Banco Santander S.A. increased its position in shares of Starbucks by 34.0% during the 1st quarter. Banco Santander S.A. now owns 78,526 shares of the coffee company's stock worth $7,176,000 after purchasing an additional 19,920 shares during the last quarter. Poehling Capital Management INC. bought a new stake in shares of Starbucks during the 1st quarter worth approximately $1,612,000. Intech Investment Management LLC boosted its holdings in shares of Starbucks by 189.6% in the 1st quarter. Intech Investment Management LLC now owns 961,887 shares of the coffee company's stock valued at $87,907,000 after buying an additional 629,733 shares during the last quarter. Finally, Spirepoint Private Client LLC acquired a new position in Starbucks during the first quarter worth $371,000. 72.29% of the stock is owned by institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX traded down $0.20 during trading on Friday, hitting $98.42. The stock had a trading volume of 8,119,296 shares, compared to its average volume of 11,147,972. The firm has a fifty day moving average of $96.60 and a two-hundred day moving average of $86.12. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market capitalization of $111.53 billion, a PE ratio of 29.73, a PEG ratio of 2.89 and a beta of 0.97.

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

Starbucks Increases Dividend

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

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a report on Wednesday, October 16th. Bank of America dropped their price target on Starbucks from $118.00 to $117.00 and set a "buy" rating on the stock in a research note on Tuesday, October 22nd. Robert W. Baird raised shares of Starbucks from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Redburn Atlantic reissued a "sell" rating and issued a $77.00 price objective (down from $84.00) on shares of Starbucks in a research report on Wednesday. Finally, UBS Group increased their price objective on Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Three 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 MarketBeat.com, Starbucks presently has an average rating of "Moderate Buy" and an average price target of $102.81.

Insider Activity

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on 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 purchase, the director now directly owns 36,242 shares of the company's stock, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 1.98% of the stock is owned by company 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.