Starbucks Co. (NASDAQ:SBUX) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 334,707 shares of the coffee company's stock after selling 8,214 shares during the quarter. MetLife Investment Management LLC's holdings in Starbucks were worth $32,631,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 2nd quarter worth about $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC grew its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the 2nd quarter worth $27,000. Finally, Olistico Wealth LLC purchased a new stake in Starbucks in the second quarter worth approximately $31,000. 72.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares of the company's stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm's stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company's stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

Analysts Set New Price Targets

SBUX has been the subject of several recent analyst reports. Sanford C. Bernstein raised shares of Starbucks from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Redburn Atlantic reaffirmed a "sell" rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. TD Cowen reiterated a "buy" rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Wells Fargo & Company raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an "overweight" rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a "hold" rating to a "buy" rating and upped their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $103.77.

Starbucks Price Performance

Starbucks stock traded up $0.83 during midday trading on Wednesday, reaching $101.51. The company's stock had a trading volume of 4,856,733 shares, compared to its average volume of 11,009,467. The stock has a market capitalization of $115.09 billion, a P/E ratio of 30.67, a PEG ratio of 2.98 and a beta of 0.97. The stock's 50-day simple moving average is $97.41 and its 200-day simple moving average is $87.65. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business posted $1.06 EPS. Starbucks's revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.40%. This is a positive change from Starbucks's previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks's dividend payout ratio is presently 73.72%.

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.