Ramsay Stattman Vela & Price Inc. Sells 4,749 Shares of Starbucks Co. (NASDAQ:SBUX)

Ramsay Stattman Vela & Price Inc. decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 73,315 shares of the coffee company’s stock after selling 4,749 shares during the quarter. Starbucks makes up about 1.3% of Ramsay Stattman Vela & Price Inc.’s investment portfolio, making the stock its 27th largest position. Ramsay Stattman Vela & Price Inc.’s holdings in Starbucks were worth $7,147,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks during the first quarter worth $415,167,000. Marshall Wace LLP raised its position in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Starbucks during the second quarter worth $243,910,000. Flossbach Von Storch AG raised its position in shares of Starbucks by 106.7% during the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after acquiring an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors bought a new stake in shares of Starbucks during the first quarter worth $257,721,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity

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

Starbucks Price Performance

NASDAQ:SBUX traded down $0.69 during trading hours on Tuesday, reaching $97.33. 2,761,913 shares of the company were exchanged, compared to its average volume of 11,303,066. The company has a market capitalization of $110.29 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.59 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The business has a 50 day moving average of $95.59 and a 200 day moving average of $85.11.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the business posted $1.00 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 3.34 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.51%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is currently 63.87%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Stifel Nicolaus dropped their price objective on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Barclays upped their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have given 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 company presently has an average rating of “Moderate Buy” and an average 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.