Impax Asset Management Group plc Sells 21,002 Shares of Starbucks Co. (NASDAQ:SBUX)

Impax Asset Management Group plc reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 19.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,439 shares of the coffee company’s stock after selling 21,002 shares during the quarter. Impax Asset Management Group plc’s holdings in Starbucks were worth $8,622,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC bought a new stake in Starbucks during the 2nd quarter worth about $26,000. Stephens Consulting LLC raised its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Starbucks during the 2nd quarter worth about $27,000. Finally, Olistico Wealth LLC acquired a new position in shares of Starbucks during the 2nd quarter worth about $31,000. 72.29% of the stock is owned by institutional investors.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought 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 owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $98.42 on Friday. The business has a fifty day simple moving average of $96.60 and a two-hundred day simple moving average of $86.12. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a market capitalization of $111.53 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm 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. The business’s revenue was down 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several analyst reports. Citigroup boosted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. BTIG Research boosted their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research report on Wednesday, August 21st. Finally, Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.81.

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.