Focus Financial Network Inc. Has $1.12 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Focus Financial Network Inc. lowered its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 3.5% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,498 shares of the coffee company’s stock after selling 420 shares during the period. Focus Financial Network Inc.’s holdings in Starbucks were worth $1,121,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in shares of Starbucks during the second quarter worth $25,000. New Millennium Group LLC acquired a new position in Starbucks in the 2nd quarter worth about $26,000. Stephens Consulting LLC raised its position in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during 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 bought a new stake in shares of Starbucks during the second quarter worth about $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

SBUX opened at $98.87 on Friday. The firm has a market capitalization of $112.04 billion, a PE ratio of 29.87, a P/E/G ratio of 2.66 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company’s 50-day moving average is $95.98 and its 200 day moving average is $85.47.

Starbucks (NASDAQ:SBUX) last posted its earnings results 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 negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the company earned $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts expect that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This is a positive change 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 2.47%. Starbucks’s dividend payout ratio is presently 73.72%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SBUX shares. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Citigroup upped their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. BMO Capital Markets upped their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.32.

Insider Activity

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’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 owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

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.