TOMS Capital Investment Management LP Sells 447,324 Shares of Starbucks Co. (NASDAQ:SBUX)

TOMS Capital Investment Management LP lowered its position in Starbucks Co. (NASDAQ:SBUX - Free Report) by 53.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,338 shares of the coffee company's stock after selling 447,324 shares during the quarter. Starbucks makes up approximately 1.4% of TOMS Capital Investment Management LP's holdings, making the stock its 11th biggest position. TOMS Capital Investment Management LP's holdings in Starbucks were worth $37,957,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the 2nd quarter worth about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company's stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter worth about $27,000. Finally, Olistico Wealth LLC acquired a new position in shares of Starbucks during the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 72.29% of the company's stock.

Starbucks Stock Up 0.9 %

Starbucks stock traded up $0.95 during mid-day trading on Monday, hitting $102.46. 3,419,300 shares of the company's stock were exchanged, compared to its average volume of 10,976,614. The firm has a market capitalization of $116.17 billion, a P/E ratio of 30.95, a PEG ratio of 3.00 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The company's 50 day simple moving average is $97.63 and its 200-day simple moving average is $88.10.

Starbucks (NASDAQ:SBUX - Get Free Report) last issued its quarterly earnings data 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 the consensus estimate of $9.60 billion. During the same quarter last year, the business posted $1.06 EPS. The firm's revenue was down 3.2% compared to the same quarter last year. Research analysts expect that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.61 dividend. This is a boost from Starbucks's previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. Starbucks's dividend payout ratio (DPR) is presently 73.72%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, 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 disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Robert W. Baird raised Starbucks from a "neutral" rating to an "outperform" rating and upped their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. TD Cowen reaffirmed a "buy" rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. BMO Capital Markets upped their price target on Starbucks from $100.00 to $110.00 and gave the company an "outperform" rating in a report on Monday, September 9th. Finally, Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a "buy" rating for the company in a report on Tuesday, October 22nd. 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 assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $103.77.

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.