Lake Street Advisors Group LLC Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Lake Street Advisors Group LLC cut its stake in Starbucks Co. (NASDAQ:SBUX) by 53.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,677 shares of the coffee company’s stock after selling 20,651 shares during the period. Lake Street Advisors Group LLC’s holdings in Starbucks were worth $1,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. AdvisorNet Financial Inc lifted its stake in Starbucks by 45.5% during the 1st quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock valued at $185,000 after acquiring an additional 633 shares during the period. Brookstone Capital Management lifted its stake in Starbucks by 18.7% during the 1st quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock valued at $2,042,000 after acquiring an additional 3,516 shares during the period. Wealthcare Advisory Partners LLC lifted its stake in Starbucks by 21.6% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,929 shares of the coffee company’s stock valued at $907,000 after acquiring an additional 1,766 shares during the period. Hennessy Advisors Inc. acquired a new stake in Starbucks during the 1st quarter valued at approximately $5,136,000. Finally, Fifth Third Wealth Advisors LLC lifted its stake in Starbucks by 43.1% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 8,701 shares of the coffee company’s stock valued at $795,000 after acquiring an additional 2,622 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.6 %

Shares of NASDAQ SBUX traded up $0.56 during mid-day trading on Friday, hitting $97.71. 1,603,053 shares of the company were exchanged, compared to its average volume of 11,327,177. The stock has a 50 day simple moving average of $95.38 and a 200-day simple moving average of $84.89. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a market cap of $110.72 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the company earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. Analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company 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 $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 63.87%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SBUX shares. Stifel Nicolaus cut their target price on shares of Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday. BTIG Research boosted their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Morgan Stanley boosted their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Company 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.