Financial Insights Inc. Cuts Position in Starbucks Co. (NASDAQ:SBUX)

Financial Insights Inc. trimmed its holdings in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,201 shares of the coffee company’s stock after selling 440 shares during the quarter. Starbucks accounts for about 1.5% of Financial Insights Inc.’s portfolio, making the stock its 17th largest position. Financial Insights Inc.’s holdings in Starbucks were worth $1,656,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Qube Research & Technologies Ltd lifted its holdings in shares of Starbucks by 1,625.1% in the 4th quarter. Qube Research & Technologies Ltd now owns 288,234 shares of the coffee company’s stock valued at $33,715,000 after buying an additional 271,526 shares during the period. Ameritas Advisory Services LLC acquired a new position in shares of Starbucks in the 4th quarter valued at about $1,297,000. PYA Waltman Capital LLC acquired a new position in Starbucks in the 4th quarter worth about $25,000. Benjamin F. Edwards & Company Inc. raised its holdings in Starbucks by 0.5% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 43,770 shares of the coffee company’s stock worth $5,120,000 after purchasing an additional 229 shares during the period. Finally, Benjamin Edwards Inc. raised its holdings in Starbucks by 65.2% in the 4th quarter. Benjamin Edwards Inc. now owns 1,513 shares of the coffee company’s stock worth $177,000 after purchasing an additional 597 shares during the period. 69.21% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SBUX shares. StockNews.com cut Starbucks from a “buy” rating to a “hold” rating in a report on Thursday, May 12th. MKM Partners reduced their target price on Starbucks from $105.00 to $98.00 in a report on Wednesday, May 4th. Piper Sandler increased their target price on Starbucks from $80.00 to $84.00 and gave the company a “neutral” rating in a report on Monday, July 18th. Barclays increased their target price on Starbucks from $94.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, August 3rd. Finally, BMO Capital Markets reduced their target price on Starbucks from $115.00 to $105.00 in a report on Wednesday, May 4th. Fourteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $103.35.

Starbucks Stock Down 1.2 %

Shares of Starbucks stock traded down $1.03 during trading on Friday, reaching $87.52. The company’s stock had a trading volume of 32,366 shares, compared to its average volume of 6,091,069. Starbucks Co. has a 12-month low of $68.39 and a 12-month high of $120.76. The company has a market capitalization of $100.42 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.75 and a beta of 0.95. The business has a 50 day moving average price of $80.53 and a 200-day moving average price of $82.57.

Starbucks (NASDAQ:SBUXGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. During the same quarter in the previous year, the firm earned $1.01 earnings per share. Research analysts predict that Starbucks Co. will post 2.89 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.24%. Starbucks’s dividend payout ratio (DPR) is 55.21%.

Starbucks Company Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

Further Reading

Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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