Shepherd Financial Partners LLC Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Shepherd Financial Partners LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 23,326 shares of the coffee company’s stock after selling 1,062 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Starbucks were worth $2,274,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Absher Wealth Management LLC boosted its stake in shares of Starbucks by 6.7% in the third quarter. Absher Wealth Management LLC now owns 363,718 shares of the coffee company’s stock worth $35,459,000 after acquiring an additional 22,759 shares during the period. New York State Common Retirement Fund raised its position in Starbucks by 2.6% during the third quarter. New York State Common Retirement Fund now owns 1,705,792 shares of the coffee company’s stock valued at $166,298,000 after purchasing an additional 43,300 shares during the period. Principal Securities Inc. raised its position in Starbucks by 13.6% during the third quarter. Principal Securities Inc. now owns 77,638 shares of the coffee company’s stock valued at $7,569,000 after purchasing an additional 9,308 shares during the period. Stephens Inc. AR raised its position in Starbucks by 7.2% during the third quarter. Stephens Inc. AR now owns 68,646 shares of the coffee company’s stock valued at $6,692,000 after purchasing an additional 4,607 shares during the period. Finally, Aspen Wealth Strategies LLC raised its position in Starbucks by 4.5% during the third quarter. Aspen Wealth Strategies LLC now owns 4,451 shares of the coffee company’s stock valued at $434,000 after purchasing an additional 191 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SBUX shares. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Barclays cut their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. JPMorgan Chase & Co. lifted their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.32.

Starbucks Stock Up 2.0 %

NASDAQ SBUX traded up $1.98 during trading hours on Friday, hitting $99.68. 3,041,234 shares of the company were exchanged, compared to its average volume of 11,280,580. The company has a 50 day moving average of $95.88 and a two-hundred day moving average of $85.37. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market cap of $112.96 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 2.63 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 45.15% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 EPS. Starbucks’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts predict that Starbucks Co. will post 3.45 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued 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 2.45%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is presently 68.88%.

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.