Tradewinds Capital Management LLC trimmed its holdings in Starbucks Co. (NASDAQ:SBUX) by 1.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,559 shares of the coffee company’s stock after selling 979 shares during the period. Starbucks comprises about 1.2% of Tradewinds Capital Management LLC’s holdings, making the stock its 15th largest position. Tradewinds Capital Management LLC’s holdings in Starbucks were worth $3,101,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in SBUX. Archford Capital Strategies LLC lifted its position in shares of Starbucks by 669.7% during the second quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after purchasing an additional 1,902 shares in the last quarter. Polaris Greystone Financial Group LLC bought a new position in shares of Starbucks during the third quarter valued at about $107,000. Fort L.P. bought a new position in shares of Starbucks during the second quarter valued at about $112,000. Point72 Hong Kong Ltd bought a new position in shares of Starbucks during the second quarter valued at about $115,000. Finally, RPg Family Wealth Advisory LLC lifted its position in shares of Starbucks by 155.6% during the second quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after purchasing an additional 1,673 shares in the last quarter. 71.86% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on SBUX shares. Wells Fargo & Co raised their price target on shares of Starbucks from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Wednesday, October 17th. KeyCorp reissued a “buy” rating on shares of Starbucks in a research report on Thursday, October 4th. Zacks Investment Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 21st. BidaskClub raised shares of Starbucks from a “hold” rating to a “buy” rating in a research report on Wednesday, September 12th. Finally, ValuEngine raised shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eighteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $62.75.
Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 70.00%. The business had revenue of $6.30 billion during the quarter, compared to the consensus estimate of $6.28 billion. During the same quarter last year, the company posted $0.55 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks Co. will post 2.64 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Stockholders of record on Thursday, November 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 2.24%. Starbucks’s payout ratio is 59.50%.
In other Starbucks news, insider Rosalind G. Brewer bought 5,000 shares of Starbucks stock in a transaction dated Monday, August 20th. The stock was purchased at an average price of $54.04 per share, for a total transaction of $270,200.00. Following the completion of the purchase, the insider now directly owns 7,302 shares of the company’s stock, valued at $394,600.08. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Myron E. Ullman III sold 99,166 shares of Starbucks stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $55.05, for a total transaction of $5,459,088.30. Following the completion of the transaction, the director now owns 29,000 shares of the company’s stock, valued at approximately $1,596,450. The disclosure for this sale can be found here. Insiders sold 280,832 shares of company stock valued at $15,052,087 in the last quarter. Corporate insiders own 3.40% of the company’s stock.
Starbucks Company Profile
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.
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