Starbucks Co. (NASDAQ:SBUX) Shares Sold by MeadowBrook Investment Advisors LLC

14 Nov 2024, 17:42 by Sarita Garza · The Markets Daily

MeadowBrook Investment Advisors LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,591 shares of the coffee company’s stock after selling 259 shares during the quarter. MeadowBrook Investment Advisors LLC’s holdings in Starbucks were worth $935,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Starbucks by 6.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 35,753 shares of the coffee company’s stock valued at $3,486,000 after acquiring an additional 2,200 shares during the last quarter. Metis Global Partners LLC boosted its position in shares of Starbucks by 2.3% in the 3rd quarter. Metis Global Partners LLC now owns 55,388 shares of the coffee company’s stock valued at $5,400,000 after purchasing an additional 1,252 shares during the period. Zions Bancorporation N.A. raised its holdings in Starbucks by 434.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 20,897 shares of the coffee company’s stock worth $2,037,000 after buying an additional 16,985 shares during the period. Plato Investment Management Ltd raised its holdings in Starbucks by 2.9% during the 3rd quarter. Plato Investment Management Ltd now owns 14,451 shares of the coffee company’s stock worth $1,407,000 after buying an additional 403 shares during the period. Finally, Schrum Private Wealth Management LLC boosted its holdings in shares of Starbucks by 100.0% in the third quarter. Schrum Private Wealth Management LLC now owns 5,738 shares of the coffee company’s stock worth $559,000 after buying an additional 2,869 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 0.1 %

SBUX traded down $0.07 during trading on Thursday, hitting $99.73. The stock had a trading volume of 928,567 shares, compared to its average volume of 11,136,733. 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 $96.45 and a 200-day simple moving average of $86.03. The firm has a market cap of $113.01 billion, a PE ratio of 30.15, a P/E/G ratio of 2.86 and a beta of 0.97.

Starbucks (NASDAQ:SBUX – Get Free Report) last announced its 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. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. During the same quarter in the prior year, the company earned $1.06 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Starbucks Co. will post 3.15 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. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. Starbucks’s dividend payout ratio is 68.88%.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 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 transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. UBS Group raised their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, Stifel Nicolaus lifted their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.31.

Get Our Latest Stock Report on Starbucks

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.