Starbucks Co. (NASDAQ:SBUX) Shares Sold by Mn Services Vermogensbeheer B.V.

by · The Cerbat Gem

Mn Services Vermogensbeheer B.V. lowered its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 439,600 shares of the coffee company’s stock after selling 8,000 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Starbucks were worth $42,857,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in SBUX. Dakota Wealth Management lifted its holdings in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares in the last quarter. LRI Investments LLC purchased a new stake in Starbucks in the 1st quarter valued at about $136,000. Great Valley Advisor Group Inc. raised its holdings in Starbucks by 45.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after buying an additional 5,377 shares during the period. China Universal Asset Management Co. Ltd. raised its holdings in Starbucks by 73.4% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,870 shares of the coffee company’s stock valued at $1,742,000 after buying an additional 7,564 shares during the period. Finally, Cetera Investment Advisers raised its holdings in Starbucks by 198.2% in the 1st quarter. Cetera Investment Advisers now owns 543,855 shares of the coffee company’s stock valued at $49,703,000 after buying an additional 361,489 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.8 %

Shares of Starbucks stock traded down $0.80 during trading hours on Monday, hitting $98.07. 1,406,765 shares of the company were exchanged, compared to its average volume of 11,261,543. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The business has a 50-day moving average of $95.98 and a 200-day moving average of $85.46. The stock has a market capitalization of $111.13 billion, a price-to-earnings ratio of 29.87, a P/E/G ratio of 2.66 and a beta of 0.97.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate 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 analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 3.42 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared 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. This represents a $2.44 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 73.72%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. BMO Capital Markets lifted their target price on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Bank of America dropped 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. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Wedbush lowered their price objective on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

View Our Latest Analysis on SBUX

Insider Buying and Selling

In related 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 transaction of $305,597.50. Following the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the 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 acquisition, the director now owns 36,242 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Company Profile

(Free Report)

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.

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