Starbucks Co. (NASDAQ:SBUX) Shares Sold by Axim Planning & Wealth

Axim Planning & Wealth lowered its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.0% during the third quarter, Holdings Channel.com reports. The firm owned 3,336 shares of the coffee company’s stock after selling 174 shares during the period. Starbucks makes up 0.4% of Axim Planning & Wealth’s holdings, making the stock its 17th biggest holding. Axim Planning & Wealth’s holdings in Starbucks were worth $325,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Ontario Teachers Pension Plan Board acquired a new position in Starbucks during the first quarter worth $415,167,000. Marshall Wace LLP boosted its holdings in Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after acquiring an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new stake in Starbucks during the second quarter worth about $243,910,000. Capital World Investors acquired a new position in shares of Starbucks in the first quarter valued at approximately $257,721,000. Finally, Van ECK Associates Corp lifted its holdings in Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 21st. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $102.31.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $99.80 on Thursday. The company has a market cap of $113.09 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a 50-day simple moving average of $96.30 and a 200-day simple moving average of $85.93.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS 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 business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts anticipate that Starbucks Co. will post 3.15 EPS for the current 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 issued 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 dividend yield of 2.44%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is presently 68.88%.

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.