Saratoga Research & Investment Management Sells 16,104 Shares of Starbucks Co. (NASDAQ:SBUX)

Saratoga Research & Investment Management decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 548,722 shares of the coffee company's stock after selling 16,104 shares during the period. Starbucks makes up about 2.3% of Saratoga Research & Investment Management's holdings, making the stock its 18th largest holding. Saratoga Research & Investment Management's holdings in Starbucks were worth $53,495,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. ORG Partners LLC raised its position in Starbucks by 292.1% in the 2nd quarter. ORG Partners LLC now owns 3,701 shares of the coffee company's stock worth $286,000 after purchasing an additional 2,757 shares during the period. Lorne Steinberg Wealth Management Inc. grew its stake in shares of Starbucks by 1.4% during the second quarter. Lorne Steinberg Wealth Management Inc. now owns 46,155 shares of the coffee company's stock valued at $3,593,000 after buying an additional 635 shares during the last quarter. Silver Lake Advisory LLC bought a new stake in shares of Starbucks in the 2nd quarter valued at about $232,000. Triad Wealth Partners LLC purchased a new stake in Starbucks during the 2nd quarter valued at about $143,000. Finally, Cordatus Wealth Management LLC bought a new position in Starbucks during the 2nd quarter worth approximately $1,753,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 transaction 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 $7,975,542.96. The trade was a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 1.98% of the company's stock.

Starbucks Stock Up 0.3 %

SBUX opened at $98.42 on Thursday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The firm has a 50 day moving average price of $98.17 and a 200-day moving average price of $89.25. The stock has a market capitalization of $111.59 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.94 and a beta of 0.97.

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 the consensus estimate 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 prior year, the firm earned $1.06 EPS. The company's revenue was down 3.2% compared to the same quarter last year. As a group, analysts expect that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. Starbucks's dividend payout ratio is currently 73.72%.

Analysts Set New Price Targets

Several brokerages recently commented on SBUX. BTIG Research lifted their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Jefferies Financial Group cut shares of Starbucks from a "hold" rating to an "underperform" rating and decreased their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Wells Fargo & Company upped their price objective on shares of Starbucks from $110.00 to $115.00 and gave the company an "overweight" rating in a research note on Tuesday, November 26th. Royal Bank of Canada began coverage on Starbucks in a research note on Friday, November 15th. They issued an "outperform" rating and a $115.00 target price on the stock. Finally, Morgan Stanley upped their price target on Starbucks from $98.00 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, October 16th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.77.

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.

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