Starbucks Co. (NASDAQ:SBUX) Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC lowered its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 37.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 338,824 shares of the coffee company's stock after selling 207,155 shares during the quarter. Ceredex Value Advisors LLC's holdings in Starbucks were worth $33,032,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Phillips Wealth Planners LLC purchased a new stake in shares of Starbucks in the third quarter valued at $326,000. Farther Finance Advisors LLC raised its stake in Starbucks by 6.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 37,398 shares of the coffee company's stock valued at $3,646,000 after purchasing an additional 2,147 shares during the last quarter. Lowe Brockenbrough & Co. Inc. lifted its holdings in Starbucks by 63.4% in the 3rd quarter. Lowe Brockenbrough & Co. Inc. now owns 32,106 shares of the coffee company's stock valued at $3,130,000 after purchasing an additional 12,454 shares in the last quarter. Roanoke Asset Management Corp NY acquired a new stake in shares of Starbucks during the 3rd quarter worth about $206,000. Finally, Eads & Heald Wealth Management grew its holdings in shares of Starbucks by 4.0% during the third quarter. Eads & Heald Wealth Management now owns 15,682 shares of the coffee company's stock worth $1,529,000 after buying an additional 606 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent analyst reports. Barclays reduced their price objective on shares of Starbucks from $110.00 to $108.00 and set an "overweight" rating on the stock in a research note on Thursday. Wedbush decreased their price objective on Starbucks from $98.00 to $95.00 and set a "neutral" rating on the stock in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on Starbucks from $90.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. TD Cowen reiterated a "buy" rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, October 23rd. Finally, Oppenheimer reissued a "market perform" rating on shares of Starbucks in a research note on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $103.32.

Starbucks Price Performance

Starbucks stock traded up $1.17 during midday trading on Friday, hitting $98.87. 8,860,191 shares of the stock were exchanged, compared to its average volume of 7,444,304. The company has a 50 day moving average price of $95.98 and a two-hundred day moving average price of $85.47. The firm has a market cap of $112.04 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.66 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year 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 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts' expectations of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company's revenue was down 3.2% compared to the same quarter last year. As a group, analysts predict that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. 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 payout ratio is 68.88%.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company's 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 transaction, the director now owns 36,242 shares of the company's stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm's stock in a transaction on Friday, September 6th. The stock was purchased at an average price 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 in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Company 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.