Cravens & Co Advisors LLC Has $1.17 Million Holdings in Starbucks Co. (NASDAQ:SBUX)

Cravens & Co Advisors LLC trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,003 shares of the coffee company’s stock after selling 798 shares during the period. Starbucks accounts for approximately 0.9% of Cravens & Co Advisors LLC’s holdings, making the stock its 20th largest holding. Cravens & Co Advisors LLC’s holdings in Starbucks were worth $1,170,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the second 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 lifted its position in Starbucks by 498.2% during the 2nd 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 period. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks in the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX stock opened at $100.68 on Wednesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The stock has a market cap of $114.15 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 2.98 and a beta of 0.97. The firm’s 50-day moving average is $97.30 and its 200-day moving average is $87.55.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.06 EPS. Sell-side analysts predict that Starbucks Co. will post 3.12 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 given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 73.72%.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost 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 of the company’s stock, valued at $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a report on Wednesday, August 21st. Finally, Citigroup lifted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Company 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.