Venturi Wealth Management LLC Has $261,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Venturi Wealth Management LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 78.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,680 shares of the coffee company's stock after selling 9,787 shares during the period. Venturi Wealth Management LLC's holdings in Starbucks were worth $261,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Riverview Trust Co raised its stake in shares of Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company's stock worth $312,000 after purchasing an additional 105 shares during the last quarter. Essex Savings Bank increased its stake in Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company's stock valued at $707,000 after buying an additional 112 shares during the period. DT Investment Partners LLC raised its position in Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company's stock worth $42,000 after buying an additional 121 shares during the last quarter. Childress Capital Advisors LLC lifted its stake in shares of Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company's stock worth $266,000 after acquiring an additional 126 shares during the period. Finally, Keystone Wealth Services LLC boosted its holdings in shares of Starbucks by 1.3% in the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company's stock valued at $990,000 after acquiring an additional 130 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 0.6 %

Shares of SBUX traded down $0.57 during mid-day trading on Thursday, reaching $99.23. 6,438,980 shares of the stock traded hands, compared to its average volume of 11,161,648. The firm has a market cap of $112.45 billion, a price-to-earnings ratio of 30.15, a P/E/G ratio of 2.86 and a beta of 0.97. The stock has a fifty day simple moving average of $96.45 and a 200 day simple moving average of $86.03. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share 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 company had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. During the same period in the prior year, the company posted $1.06 EPS. The firm's revenue for the quarter was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a boost from Starbucks's previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.46%. Starbucks's dividend payout ratio (DPR) is presently 68.88%.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm'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 completion of the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company's stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent analyst reports. Bank of America reduced their price objective on shares of Starbucks from $118.00 to $117.00 and set a "buy" rating for the company in a research report on Tuesday, October 22nd. UBS Group raised their price target on Starbucks from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft raised Starbucks from a "hold" rating to a "buy" rating and upped their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Jefferies Financial Group downgraded Starbucks from a "hold" rating to an "underperform" rating and reduced their target price for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, BTIG Research upped their price target 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. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.31.

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.