Fort Washington Investment Advisors Inc. OH Sells 108,080 Shares of Starbucks Corporation $SBUX

Fort Washington Investment Advisors Inc. OH decreased its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 9.8% during the third quarter, HoldingsChannel reports. The firm owned 992,361 shares of the coffee company’s stock after selling 108,080 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Starbucks were worth $83,954,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SBUX. PUREfi Wealth LLC bought a new position in Starbucks in the second quarter worth approximately $286,000. Narwhal Capital Management boosted its position in Starbucks by 39.6% during the 2nd quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after acquiring an additional 9,282 shares in the last quarter. Morningstar Investment Management LLC purchased a new position in shares of Starbucks in the 2nd quarter valued at $653,000. Pegasus Asset Management Inc. bought a new position in shares of Starbucks in the 2nd quarter worth $1,289,000. Finally, Conning Inc. raised its position in shares of Starbucks by 22.3% in the 2nd quarter. Conning Inc. now owns 386,106 shares of the coffee company’s stock worth $35,379,000 after acquiring an additional 70,468 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.6%

Shares of Starbucks stock opened at $85.57 on Tuesday. The company has a 50 day moving average price of $84.85 and a 200 day moving average price of $87.45. The firm has a market capitalization of $97.30 billion, a P/E ratio of 52.18, a PEG ratio of 1.77 and a beta of 0.98. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46.

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

Starbucks Dividend Announcement

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

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction on Monday, November 10th. The shares were acquired at an average price 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 $4,513,160. This trade represents 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 this hyperlink. Corporate insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of several analyst reports. Mizuho upgraded Starbucks to a “hold” rating in a research note on Tuesday, October 28th. Citigroup lowered their price target on shares of Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Sanford C. Bernstein set a $100.00 price objective on shares of Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. UBS Group set a $94.00 target price on shares of Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the company an “overweight” rating in a research note on Thursday, October 16th. One research 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 given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

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.