Starbucks Corporation $SBUX Shares Sold by Financial Advocates Investment Management

Financial Advocates Investment Management decreased its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 35.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,345 shares of the coffee company’s stock after selling 8,533 shares during the quarter. Financial Advocates Investment Management’s holdings in Starbucks were worth $1,406,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SBUX. Alliance Wealth Advisors LLC boosted its position in Starbucks by 2.1% during the second quarter. Alliance Wealth Advisors LLC now owns 5,170 shares of the coffee company’s stock worth $474,000 after purchasing an additional 108 shares in the last quarter. Cooper Haims Advisors LLC raised its stake in shares of Starbucks by 3.0% during the 2nd quarter. Cooper Haims Advisors LLC now owns 3,749 shares of the coffee company’s stock worth $344,000 after buying an additional 110 shares during the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of Starbucks by 1.4% in the 2nd quarter. Brown Lisle Cummings Inc. now owns 8,293 shares of the coffee company’s stock worth $760,000 after buying an additional 117 shares in the last quarter. Diligent Investors LLC grew its stake in Starbucks by 1.9% in the 2nd quarter. Diligent Investors LLC now owns 6,132 shares of the coffee company’s stock valued at $562,000 after acquiring an additional 117 shares during the last quarter. Finally, Ted Buchan & Co grew its stake in Starbucks by 1.5% in the 1st quarter. Ted Buchan & Co now owns 8,066 shares of the coffee company’s stock valued at $791,000 after acquiring an additional 120 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was purchased at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the acquisition, the director owned 53,096 shares in the company, valued at $4,513,160. This trade represents a 28.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on SBUX shares. UBS Group set a $94.00 target price on shares of Starbucks and gave the stock a “neutral” rating in a research report on Tuesday, October 21st. Royal Bank Of Canada set a $100.00 price objective on Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Wells Fargo & Company set a $100.00 target price on Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Morgan Stanley set a $105.00 price target on Starbucks and gave the stock an “overweight” rating in a research report on Monday, October 20th. Finally, Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Stock Up 3.1%

Shares of Starbucks stock opened at $85.91 on Wednesday. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The business’s fifty day moving average is $83.88 and its two-hundred day moving average is $87.71. The firm has a market cap of $97.69 billion, a PE ratio of 52.38, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. Starbucks’s dividend payout ratio is 151.22%.

About Starbucks

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.