Starbucks Co. (NASDAQ:SBUX) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.2% during the third quarter, Holdings Channel reports. The institutional investor owned 135,623 shares of the coffee company’s stock after selling 215 shares during the period. Starbucks makes up about 2.2% of Arcadia Investment Management Corp MI’s holdings, making the stock its 16th largest position. Arcadia Investment Management Corp MI’s holdings in Starbucks were worth $13,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in shares of Starbucks by 95.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 312,309 shares of the coffee company’s stock worth $28,542,000 after purchasing an additional 152,849 shares during the last quarter. Fidelis Capital Partners LLC grew its holdings in shares of Starbucks by 18.7% during the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares during the last quarter. Quent Capital LLC grew its holdings in shares of Starbucks by 9.6% during the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after buying an additional 385 shares during the last quarter. AAFMAA Wealth Management & Trust LLC purchased a new position in shares of Starbucks during the first quarter worth about $1,261,000. Finally, Financial Counselors Inc. grew its holdings in shares of Starbucks by 7.4% during the first quarter. Financial Counselors Inc. now owns 358,205 shares of the coffee company’s stock worth $32,736,000 after buying an additional 24,778 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased 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 in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were 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 directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $98.87 on Friday. The stock has a fifty day moving average of $95.98 and a two-hundred day moving average of $85.47. The company has a market capitalization of $112.04 billion, a PE ratio of 29.87, a price-to-earnings-growth 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.

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, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.06 EPS. As a group, equities research analysts forecast that Starbucks Co. will post 3.42 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. Starbucks’s payout ratio is currently 73.72%.

Analysts Set New Price Targets

SBUX has been the topic of a number of research reports. Wedbush lowered their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday. Morgan Stanley raised their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Bank of America lowered their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

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.