Peapack Gladstone Financial Corp Reduces Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Peapack Gladstone Financial Corp decreased its stake in Starbucks Co. (NASDAQ:SBUX - Free Report) by 11.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 153,766 shares of the coffee company's stock after selling 20,852 shares during the quarter. Peapack Gladstone Financial Corp's holdings in Starbucks were worth $14,992,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. increased its stake in shares of Starbucks by 39.9% during the second quarter. Blue Trust Inc. now owns 10,140 shares of the coffee company's stock worth $789,000 after purchasing an additional 2,894 shares in the last quarter. Brookstone Capital Management increased its stake in Starbucks by 27.2% during the 2nd quarter. Brookstone Capital Management now owns 28,426 shares of the coffee company's stock worth $2,135,000 after buying an additional 6,081 shares in the last quarter. Everpar Advisors LLC raised its holdings in shares of Starbucks by 11.7% during the second quarter. Everpar Advisors LLC now owns 4,520 shares of the coffee company's stock valued at $352,000 after acquiring an additional 472 shares during the last quarter. TCW Group Inc. boosted its stake in shares of Starbucks by 4.0% in the second quarter. TCW Group Inc. now owns 15,915 shares of the coffee company's stock worth $1,239,000 after acquiring an additional 611 shares during the last quarter. Finally, Boomfish Wealth Group LLC increased its position in shares of Starbucks by 11.8% during the second quarter. Boomfish Wealth Group LLC now owns 15,343 shares of the coffee company's stock worth $1,194,000 after purchasing an additional 1,618 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Down 0.4 %

NASDAQ SBUX traded down $0.40 during trading on Friday, hitting $97.42. The stock had a trading volume of 5,910,905 shares, compared to its average volume of 10,805,820. The company has a market capitalization of $110.45 billion, a PE ratio of 29.43, a PEG ratio of 2.89 and a beta of 0.97. 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 $98.24 and a 200 day moving average price of $89.44.

Starbucks (NASDAQ:SBUX - Get Free Report) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $2.44 annualized dividend and a yield of 2.50%. Starbucks's dividend payout ratio (DPR) is 73.72%.

Analyst Ratings Changes

Several equities research analysts have issued reports on SBUX shares. BMO Capital Markets lifted their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an "outperform" rating in a research note on Monday, September 9th. Sanford C. Bernstein upgraded shares of Starbucks from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. DZ Bank downgraded shares of Starbucks from a "hold" rating to a "sell" rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Redburn Atlantic restated a "sell" rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Finally, TD Cowen reaffirmed a "buy" rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of "Moderate Buy" and an average 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.