Mattson Financial Services LLC Sells 6,469 Shares of Starbucks Corporation $SBUX

Mattson Financial Services LLC decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 19.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 26,928 shares of the coffee company’s stock after selling 6,469 shares during the period. Mattson Financial Services LLC’s holdings in Starbucks were worth $2,278,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SBUX. Vanguard Group Inc. increased its position in shares of Starbucks by 0.7% during the second quarter. Vanguard Group Inc. now owns 112,861,623 shares of the coffee company’s stock worth $10,341,511,000 after acquiring an additional 802,053 shares in the last quarter. State Street Corp lifted its position in Starbucks by 1.2% in the 2nd quarter. State Street Corp now owns 47,513,332 shares of the coffee company’s stock valued at $4,353,647,000 after acquiring an additional 544,534 shares in the last quarter. Geode Capital Management LLC boosted its stake in Starbucks by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 25,846,634 shares of the coffee company’s stock valued at $2,357,815,000 after purchasing an additional 99,983 shares during the last quarter. Norges Bank bought a new stake in Starbucks during the 2nd quarter worth approximately $1,246,316,000. Finally, Invesco Ltd. raised its stake in shares of Starbucks by 11.2% in the second quarter. Invesco Ltd. now owns 12,757,954 shares of the coffee company’s stock worth $1,169,011,000 after purchasing an additional 1,286,451 shares during the last quarter. 72.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of Starbucks stock in a transaction dated Monday, November 10th. The stock was purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the transaction, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SBUX. Piper Sandler dropped their target price on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 22nd. Dbs Bank downgraded shares of Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. UBS Group set a $94.00 target price on shares of Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Finally, Mizuho upgraded shares of Starbucks to a “hold” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $85.08 on Monday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a market capitalization of $96.74 billion, a PE ratio of 51.88, a price-to-earnings-growth ratio of 1.77 and a beta of 0.98. The business has a fifty day moving average price of $84.83 and a two-hundred day moving average price of $87.51.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.80 earnings per share. Sell-side analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be paid a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Friday, February 13th. Starbucks’s payout ratio is presently 151.22%.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.