J.W. Cole Advisors Inc. Cuts Holdings in Starbucks Co. (NASDAQ:SBUX)

J.W. Cole Advisors Inc. decreased its position in Starbucks Co. (NASDAQ:SBUX) by 56.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,176 shares of the coffee company’s stock after selling 13,170 shares during the period. J.W. Cole Advisors Inc.’s holdings in Starbucks were worth $992,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of SBUX. Ontario Teachers Pension Plan Board purchased a new stake in shares of Starbucks during the 1st quarter worth approximately $415,167,000. Marshall Wace LLP increased its position in Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Starbucks in the second quarter worth $243,910,000. Flossbach Von Storch AG raised its stake in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the period. Finally, Capital World Investors purchased a new position in shares of Starbucks during the 1st quarter valued at $257,721,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Down 0.6 %

NASDAQ SBUX opened at $97.39 on Wednesday. The stock’s 50-day simple moving average is $95.68 and its two-hundred day simple moving average is $85.20. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $110.36 billion, a price-to-earnings ratio of 27.28, a PEG ratio of 2.59 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion for 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%. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period last year, the firm posted $1.00 EPS. On average, equities analysts expect that Starbucks Co. will post 3.34 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is 68.35%.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction 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. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of several recent research reports. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $81.00 to $110.00 in a report on Tuesday, August 13th. Barclays boosted their price target on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. UBS Group upped their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Company 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.