Bogart Wealth LLC cut its stake in Starbucks Co. (NASDAQ:SBUX – Free Report) by 95.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,446 shares of the coffee company’s stock after selling 48,024 shares during the period. Bogart Wealth LLC’s holdings in Starbucks were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently bought and sold shares of the company. Fidelis Capital Partners LLC increased its holdings in shares of Starbucks by 18.7% in the first quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the period. AMI Asset Management Corp raised its position in Starbucks by 2.8% during the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after buying an additional 10,092 shares during the last quarter. LRI Investments LLC acquired a new stake in Starbucks during the 1st quarter valued at approximately $136,000. BNP Paribas purchased a new stake in shares of Starbucks in the 1st quarter valued at $9,332,000. Finally, Great Valley Advisor Group Inc. boosted its holdings in shares of Starbucks by 45.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after acquiring an additional 5,377 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.
Insider Activity at Starbucks
In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Read Our Latest Analysis on Starbucks
Starbucks Trading Down 0.5 %
Shares of NASDAQ SBUX opened at $97.15 on Friday. The company has a 50-day moving average of $95.38 and a 200 day moving average of $84.89. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market cap of $110.09 billion, a PE ratio of 27.21, a P/E/G ratio of 2.14 and a beta of 0.97.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 3.55 EPS for the current fiscal year.
Starbucks Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s payout ratio is presently 63.87%.
Starbucks Profile
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.
See Also
- Five stocks we like better than Starbucks
- What Are Dividend Champions? How to Invest in the Champions
- Why Meta’s Pre-Earnings Dip Could Be A Golden Entry Opportunity
- What is the S&P/TSX Index?
- Spirit Airlines Stock Nearly Doubled: Are Clear Skies Ahead?
- Utilities Stocks Explained – How and Why to Invest in Utilities
- Tesla Stock: Buy the Dips, Sell the Rips
Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX – Free Report).
Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.