Northern Financial Advisors Inc Has $587,000 Holdings in Starbucks Co. (NASDAQ:SBUX)

Northern Financial Advisors Inc decreased its stake in Starbucks Co. (NASDAQ:SBUX) by 19.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,016 shares of the coffee company’s stock after selling 1,467 shares during the quarter. Northern Financial Advisors Inc’s holdings in Starbucks were worth $587,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Private Wealth Partners LLC raised its position in shares of Starbucks by 32.7% in the 3rd quarter. Private Wealth Partners LLC now owns 7,149 shares of the coffee company’s stock valued at $697,000 after acquiring an additional 1,760 shares during the period. Optas LLC raised its holdings in Starbucks by 184.4% in the third quarter. Optas LLC now owns 16,606 shares of the coffee company’s stock worth $1,619,000 after purchasing an additional 10,767 shares during the period. Argonautica Private Wealth Management Inc. raised its holdings in Starbucks by 0.8% in the third quarter. Argonautica Private Wealth Management Inc. now owns 46,088 shares of the coffee company’s stock worth $4,493,000 after purchasing an additional 361 shares during the period. Key Financial Inc grew its holdings in shares of Starbucks by 5.8% in the 3rd quarter. Key Financial Inc now owns 3,337 shares of the coffee company’s stock valued at $325,000 after buying an additional 184 shares during the period. Finally, Invesco LLC increased its position in shares of Starbucks by 3.0% in the 3rd quarter. Invesco LLC now owns 9,330 shares of the coffee company’s stock valued at $910,000 after buying an additional 271 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Citigroup lifted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Two 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction 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 $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The shares were 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. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s 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 of the company’s stock, 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 insiders.

Starbucks Trading Up 1.2 %

NASDAQ SBUX opened at $98.87 on Friday. The firm has a market capitalization of $112.04 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97. The firm’s fifty day moving average price is $95.98 and its two-hundred day moving average price is $85.47. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the firm earned $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts anticipate that Starbucks Co. will post 3.42 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm 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 dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is currently 73.72%.

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.