Arrow Financial Corp cut its position in Starbucks Co. (NASDAQ:SBUX) by 22.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,323 shares of the coffee company’s stock after selling 9,677 shares during the quarter. Arrow Financial Corp’s holdings in Starbucks were worth $1,844,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Appropriate Balance Financial Services Inc. raised its holdings in Starbucks by 1.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 839 shares of the coffee company’s stock worth $14,396,000 after purchasing an additional 13 shares in the last quarter. Union Bankshares Corp raised its holdings in Starbucks by 0.4% in the second quarter. Union Bankshares Corp now owns 3,508 shares of the coffee company’s stock worth $204,000 after purchasing an additional 14 shares in the last quarter. Ken Stern & Associates Inc. raised its holdings in Starbucks by 0.4% in the second quarter. Ken Stern & Associates Inc. now owns 5,662 shares of the coffee company’s stock worth $330,000 after purchasing an additional 23 shares in the last quarter. Vaughan David Investments Inc. IL increased its holdings in shares of Starbucks by 0.6% during the first quarter. Vaughan David Investments Inc. IL now owns 4,649 shares of the coffee company’s stock valued at $271,000 after acquiring an additional 26 shares in the last quarter. Finally, Spectrum Management Group Inc. increased its holdings in shares of Starbucks by 0.3% during the second quarter. Spectrum Management Group Inc. now owns 10,630 shares of the coffee company’s stock valued at $620,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 71.07% of the company’s stock.

Shares of Starbucks Co. (SBUX) opened at $58.29 on Monday. The company has a market capitalization of $82,935.02, a P/E ratio of 28.16, a P/E/G ratio of 1.59 and a beta of 0.75. Starbucks Co. has a 52-week low of $52.58 and a 52-week high of $64.87. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.25 and a quick ratio of 0.93.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, November 2nd. The coffee company reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.81 billion. Starbucks had a return on equity of 53.34% and a net margin of 12.89%. Starbucks’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.56 earnings per share. equities analysts expect that Starbucks Co. will post 2.31 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Thursday, November 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend was Wednesday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.25. Starbucks’s dividend payout ratio is currently 60.91%.

In other Starbucks news, Director Craig Weatherup sold 56,666 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $56.73, for a total value of $3,214,662.18. Following the sale, the director now owns 56,666 shares in the company, valued at approximately $3,214,662.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Howard D. Schultz sold 290,176 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $57.03, for a total value of $16,548,737.28. Following the completion of the sale, the insider now owns 29,872,564 shares in the company, valued at approximately $1,703,632,324.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 497,808 shares of company stock worth $28,559,521. Insiders own 3.40% of the company’s stock.

Several equities analysts have recently issued reports on the stock. Robert W. Baird cut their price objective on shares of Starbucks from $70.00 to $66.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Mizuho restated a “buy” rating and set a $75.00 price objective on shares of Starbucks in a report on Friday, September 29th. Vetr downgraded shares of Starbucks from a “strong-buy” rating to a “buy” rating and set a $64.32 price objective on the stock. in a report on Monday, November 13th. Sanford C. Bernstein restated an “outperform” rating and set a $67.00 price objective on shares of Starbucks in a report on Wednesday, August 23rd. Finally, Credit Suisse Group cut their price objective on shares of Starbucks from $56.00 to $54.00 and set a “neutral” rating on the stock in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Starbucks currently has an average rating of “Buy” and a consensus price target of $63.26.

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Starbucks Profile

Starbucks Corporation (Starbucks) is a roaster, marketer and retailer of coffee. As of October 2, 2016, the Company operated in 75 countries. The Company operates through four segments: Americas, which is inclusive of the United States, Canada, and Latin America; China/Asia Pacific (CAP); Europe, Middle East, and Africa (EMEA), and Channel Development.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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