Ballast Inc. reduced its stake in Starbucks Co. (NASDAQ:SBUX) by 21.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,109 shares of the coffee company’s stock after selling 1,913 shares during the quarter. Ballast Inc.’s holdings in Starbucks were worth $610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Cottage Street Advisors LLC lifted its stake in Starbucks by 0.6% in the third quarter. Cottage Street Advisors LLC now owns 21,120 shares of the coffee company’s stock valued at $1,815,000 after buying an additional 121 shares during the period. Tsfg LLC lifted its stake in Starbucks by 2.1% in the third quarter. Tsfg LLC now owns 6,297 shares of the coffee company’s stock valued at $541,000 after buying an additional 130 shares during the period. CFM Wealth Partners LLC lifted its stake in Starbucks by 0.3% in the second quarter. CFM Wealth Partners LLC now owns 42,169 shares of the coffee company’s stock valued at $3,103,000 after buying an additional 132 shares during the period. UMA Financial Services Inc. lifted its stake in Starbucks by 5.0% in the second quarter. UMA Financial Services Inc. now owns 2,831 shares of the coffee company’s stock valued at $219,000 after buying an additional 135 shares during the period. Finally, Bingham Osborn & Scarborough LLC lifted its stake in Starbucks by 0.9% in the second quarter. Bingham Osborn & Scarborough LLC now owns 15,377 shares of the coffee company’s stock valued at $1,132,000 after buying an additional 136 shares during the period. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Clara Shih sold 37,498 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $79.13, for a total transaction of $2,967,216.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Kevin R. Johnson sold 107,762 shares of the company’s stock in a transaction on Friday, October 9th. The shares were sold at an average price of $90.08, for a total value of $9,707,200.96. The disclosure for this sale can be found here. Insiders have sold a total of 153,764 shares of company stock worth $13,404,656 in the last ninety days. Insiders own 0.41% of the company’s stock.

SBUX stock opened at $88.52 on Friday. The stock’s fifty day simple moving average is $86.35 and its two-hundred day simple moving average is $78.11. Starbucks Co. has a 1-year low of $50.02 and a 1-year high of $94.13. The stock has a market cap of $103.48 billion, a P/E ratio of 79.75, a P/E/G ratio of 6.38 and a beta of 0.81.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. Starbucks had a negative return on equity of 22.26% and a net margin of 5.56%. The business had revenue of $4.22 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The business’s revenue was down 38.1% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Co. will post 0.97 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Tuesday, November 10th. This is a boost from Starbucks’s previous quarterly dividend of $0.41. Starbucks’s dividend payout ratio is currently 57.95%.

Several equities analysts have issued reports on the company. Stifel Nicolaus raised Starbucks from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Monday, August 24th. BidaskClub downgraded Starbucks from a “buy” rating to a “hold” rating in a report on Thursday. Stephens boosted their price objective on Starbucks from $72.00 to $78.00 and gave the company an “equal weight” rating in a report on Wednesday, July 29th. Oppenheimer boosted their price objective on Starbucks from $85.00 to $101.00 and gave the company an “outperform” rating in a report on Monday, October 5th. Finally, Morgan Stanley boosted their price objective on Starbucks from $79.00 to $91.00 and gave the company an “equal weight” rating in a report on Wednesday. Sixteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $86.73.

About Starbucks

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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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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