KCM Investment Advisors LLC Sells 1,293 Shares of Starbucks Co. (NASDAQ:SBUX)

by · The Markets Daily

KCM Investment Advisors LLC decreased its position in Starbucks Co. (NASDAQ:SBUX – Free Report) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 135,827 shares of the coffee company’s stock after selling 1,293 shares during the quarter. KCM Investment Advisors LLC’s holdings in Starbucks were worth $13,242,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter worth approximately $25,000. New Millennium Group LLC bought a new stake in Starbucks during the second quarter worth approximately $26,000. Stephens Consulting LLC boosted its position in Starbucks by 498.2% during the second 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 period. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks in the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks in the second quarter valued at approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several research reports. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. BTIG Research increased their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Bank of America cut their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Three 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Check Out Our Latest Stock Analysis on Starbucks

Starbucks Trading Up 1.1 %

Starbucks stock traded up $1.12 during mid-day trading on Friday, hitting $99.74. The stock had a trading volume of 1,580,885 shares, compared to its average volume of 11,116,984. The stock has a 50-day simple moving average of $96.60 and a two-hundred day simple moving average of $86.12. The stock has a market capitalization of $113.03 billion, a PE ratio of 30.16, a P/E/G ratio of 2.89 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the business earned $1.06 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Sell-side analysts expect that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.45%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.98% of the company’s stock.

Starbucks 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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