Polaris Wealth Advisory Group LLC trimmed its position in Starbucks Co. (NASDAQ:SBUX) by 30.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 180,637 shares of the coffee company’s stock after selling 79,072 shares during the period. Starbucks comprises 1.5% of Polaris Wealth Advisory Group LLC’s investment portfolio, making the stock its 25th biggest position. Polaris Wealth Advisory Group LLC’s holdings in Starbucks were worth $15,981,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of SBUX. Evolution Wealth Advisors LLC lifted its holdings in Starbucks by 10.9% during the third quarter. Evolution Wealth Advisors LLC now owns 2,538 shares of the coffee company’s stock worth $218,000 after acquiring an additional 250 shares during the period. Diversified Trust Co increased its position in shares of Starbucks by 1.3% during the 3rd quarter. Diversified Trust Co now owns 33,715 shares of the coffee company’s stock valued at $2,897,000 after purchasing an additional 426 shares during the last quarter. Coastline Trust Co raised its stake in shares of Starbucks by 6.5% during the 3rd quarter. Coastline Trust Co now owns 21,910 shares of the coffee company’s stock worth $1,882,000 after purchasing an additional 1,335 shares during the period. Somerset Trust Co purchased a new position in shares of Starbucks in the 3rd quarter worth about $228,000. Finally, Teamwork Financial Advisors LLC bought a new position in Starbucks during the third quarter valued at about $211,000. Hedge funds and other institutional investors own 68.36% of the company’s stock.
In related news, Director Clara Shih sold 37,498 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $79.13, for a total value of $2,967,216.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $84.77, for a total value of $360,442.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 153,764 shares of company stock valued at $13,404,656. 0.41% of the stock is currently owned by company insiders.
Starbucks stock opened at $88.52 on Friday. Starbucks Co. has a fifty-two week low of $50.02 and a fifty-two week high of $94.13. The stock has a market cap of $103.48 billion, a P/E ratio of 79.75, a PEG ratio of 6.38 and a beta of 0.81. The firm’s fifty day moving average price is $86.35 and its 200-day moving average price is $78.11.
Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 28th. The coffee company reported ($0.46) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. The business had revenue of $4.22 billion during the quarter, compared to analysts’ expectations of $4.14 billion. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The firm’s revenue was down 38.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.78 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 0.97 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be paid a $0.45 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.41. This represents a $1.80 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Tuesday, November 10th. Starbucks’s dividend payout ratio (DPR) is currently 57.95%.
SBUX has been the topic of several research reports. Barclays lifted their price objective on shares of Starbucks from $88.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 29th. ValuEngine downgraded Starbucks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 9th. Oppenheimer raised their target price on Starbucks from $85.00 to $101.00 and gave the stock an “outperform” rating in a research report on Monday, October 5th. Morgan Stanley boosted their target price on Starbucks from $79.00 to $91.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. lifted their price objective on Starbucks from $76.00 to $80.00 and gave the stock a “neutral” rating in a report on Monday, September 21st. Sixteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Starbucks currently has an average rating of “Hold” and an average target price of $86.73.
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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