Forbes J M & Co. LLP Lowers Position in Starbucks Co. (SBUX)

Forbes J M & Co. LLP lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 96.1% during the third quarter, HoldingsChannel.com reports. The firm owned 4,030 shares of the coffee company’s stock after selling 98,501 shares during the period. Forbes J M & Co. LLP’s holdings in Starbucks were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Polaris Greystone Financial Group LLC bought a new stake in Starbucks during the 3rd quarter valued at $107,000. Archford Capital Strategies LLC raised its holdings in Starbucks by 669.7% during the 2nd quarter. Archford Capital Strategies LLC now owns 2,186 shares of the coffee company’s stock valued at $107,000 after acquiring an additional 1,902 shares during the period. Fort L.P. bought a new stake in Starbucks during the 2nd quarter valued at $112,000. Point72 Hong Kong Ltd bought a new stake in Starbucks during the 2nd quarter valued at $115,000. Finally, RPg Family Wealth Advisory LLC raised its holdings in Starbucks by 155.6% during the 2nd quarter. RPg Family Wealth Advisory LLC now owns 2,748 shares of the coffee company’s stock valued at $134,000 after acquiring an additional 1,673 shares during the period. 71.77% of the stock is currently owned by institutional investors.

Shares of NASDAQ:SBUX opened at $68.60 on Friday. Starbucks Co. has a 52-week low of $47.37 and a 52-week high of $68.98. The firm has a market capitalization of $89.05 billion, a P/E ratio of 28.35, a P/E/G ratio of 1.78 and a beta of 0.48. The company has a quick ratio of 1.95, a current ratio of 2.20 and a debt-to-equity ratio of 7.73.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, November 1st. The coffee company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Starbucks had a net margin of 18.28% and a return on equity of 86.33%. The company had revenue of $6.30 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same period in the previous year, the business earned $0.55 earnings per share. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. Sell-side analysts predict that Starbucks Co. will post 2.65 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Thursday, November 15th will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 14th. This represents a $1.44 annualized dividend and a yield of 2.10%. Starbucks’s dividend payout ratio (DPR) is presently 59.50%.

In other Starbucks news, Director Javier G. Teruel sold 166,666 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $52.70, for a total transaction of $8,783,298.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Myron E. Ullman III sold 15,000 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $53.98, for a total transaction of $809,700.00. Following the sale, the director now owns 29,000 shares of the company’s stock, valued at $1,565,420. The disclosure for this sale can be found here. Insiders sold 280,832 shares of company stock valued at $15,052,087 over the last quarter. 3.40% of the stock is owned by company insiders.

Several research firms have recently weighed in on SBUX. BMO Capital Markets set a $51.00 price target on shares of Starbucks and gave the stock a “hold” rating in a report on Monday, July 23rd. Barclays decreased their price target on shares of Starbucks from $60.00 to $57.00 and set a “$51.15” rating on the stock in a report on Wednesday, July 18th. Telsey Advisory Group decreased their price target on shares of Starbucks from $60.00 to $58.00 and set a “market perform” rating on the stock in a report on Tuesday, July 17th. Robert W. Baird upped their price target on shares of Starbucks from $64.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, November 2nd. Finally, ValuEngine raised shares of Starbucks from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $63.48.

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About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink coffee and tea products, and food and snacks; 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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