Brighton Jones LLC Sells 59,247 Shares of Starbucks Co. (NASDAQ:SBUX)

Brighton Jones LLC lessened its position in shares of Starbucks Co. (NASDAQ:SBUX) by 38.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 94,770 shares of the coffee company’s stock after selling 59,247 shares during the quarter. Brighton Jones LLC’s holdings in Starbucks were worth $9,239,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AdvisorNet Financial Inc boosted its position in shares of Starbucks by 45.5% in the 1st quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock worth $185,000 after purchasing an additional 633 shares during the last quarter. Brookstone Capital Management boosted its holdings in Starbucks by 18.7% during the first quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock worth $2,042,000 after buying an additional 3,516 shares during the last quarter. Aspiriant LLC grew its position in shares of Starbucks by 4.0% during the 1st quarter. Aspiriant LLC now owns 5,539 shares of the coffee company’s stock worth $506,000 after buying an additional 211 shares during the period. Wealthcare Advisory Partners LLC increased its stake in shares of Starbucks by 21.6% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 9,929 shares of the coffee company’s stock valued at $907,000 after acquiring an additional 1,766 shares during the last quarter. Finally, ERn Financial LLC raised its position in shares of Starbucks by 4.1% in the 1st quarter. ERn Financial LLC now owns 4,514 shares of the coffee company’s stock valued at $413,000 after acquiring an additional 177 shares during the period. Institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s 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 transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBUX. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Bank of America lowered their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays lifted their target price on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. 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. Finally, Wedbush reaffirmed a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Price Performance

Shares of SBUX stock opened at $97.65 on Thursday. The company has a fifty day moving average price of $95.38 and a two-hundred day moving average price of $84.89. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a market cap of $110.61 billion, a P/E ratio of 26.90, a P/E/G ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue was down .6% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. 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 dividend payout ratio is 62.81%.

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.