TD Private Client Wealth LLC Sells 7,303 Shares of Starbucks Corporation $SBUX

TD Private Client Wealth LLC lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 26.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,090 shares of the coffee company’s stock after selling 7,303 shares during the period. TD Private Client Wealth LLC’s holdings in Starbucks were worth $1,700,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SBUX. Game Plan Financial Advisors LLC acquired a new position in shares of Starbucks in the 2nd quarter worth approximately $25,000. Transce3nd LLC boosted its position in Starbucks by 270.3% during the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 200 shares during the last quarter. Chelsea Counsel Co. acquired a new stake in Starbucks during the 2nd quarter worth about $26,000. MTM Investment Management LLC bought a new position in shares of Starbucks in the 2nd quarter worth about $28,000. Finally, PFS Partners LLC lifted its stake in shares of Starbucks by 457.4% in the 3rd quarter. PFS Partners LLC now owns 340 shares of the coffee company’s stock valued at $29,000 after purchasing an additional 279 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the company’s stock in a transaction on Monday, November 10th. The shares were acquired at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the purchase, the director owned 53,096 shares in the company, 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 filing with the SEC, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $91.15 on Thursday. The company has a 50-day moving average price of $85.69 and a 200-day moving average price of $87.08. The stock has a market capitalization of $103.65 billion, a P/E ratio of 55.58, a P/E/G ratio of 1.91 and a beta of 0.97. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. Starbucks’s revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 EPS. As a group, equities research analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be issued a dividend of $0.62 per share. The ex-dividend date is Friday, February 13th. This represents a $2.48 annualized dividend and a yield of 2.7%. Starbucks’s dividend payout ratio is 151.22%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of several recent analyst reports. Barclays reaffirmed an “overweight” rating and set a $110.00 target price (up previously from $95.00) on shares of Starbucks in a research note on Wednesday, January 7th. Morgan Stanley set a $105.00 price objective on shares of Starbucks and gave the company an “overweight” rating in a research note on Monday, October 20th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. Dbs Bank cut shares of Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Finally, Wall Street Zen upgraded shares of Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, ten have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $102.12.

Starbucks 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.