Starbucks Co. (NASDAQ:SBUX) Shares Sold by Tempus Wealth Planning LLC

Tempus Wealth Planning LLC reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 31.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,135 shares of the coffee company’s stock after selling 1,465 shares during the period. Tempus Wealth Planning LLC’s holdings in Starbucks were worth $306,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the second quarter valued at about $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC grew its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the second quarter valued at about $27,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Starbucks during the second quarter valued at about $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SBUX has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research note on Wednesday, August 21st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, BTIG Research lifted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $102.40.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $96.82 on Wednesday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market cap of $109.67 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.14 and a beta of 0.97. The stock’s 50 day moving average price is $95.31 and its 200 day moving average price is $84.80.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.00 earnings per share. On average, sell-side analysts expect that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.52%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 62.81%.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on 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 purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

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.