Starbucks Corporation $SBUX Shares Sold by Candriam S.C.A.

Candriam S.C.A. reduced its stake in Starbucks Corporation (NASDAQ:SBUX) by 5.4% during the 2nd quarter, Holdings Channel reports. The fund owned 133,130 shares of the coffee company’s stock after selling 7,547 shares during the quarter. Candriam S.C.A.’s holdings in Starbucks were worth $12,199,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Game Plan Financial Advisors LLC purchased a new stake in Starbucks during the 2nd quarter worth about $25,000. Chelsea Counsel Co. purchased a new stake in shares of Starbucks during the second quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC increased its stake in shares of Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. McClarren Financial Advisors Inc. acquired a new stake in Starbucks in the first quarter valued at approximately $29,000. Finally, Nova Wealth Management Inc. lifted its stake in Starbucks by 285.4% in the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after acquiring an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average cost of $85.00 per share, with a total value of $994,500.00. Following the transaction, the director owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This trade represents a 28.26% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Starbucks Stock Performance

Starbucks stock opened at $84.78 on Friday. The company has a market capitalization of $96.37 billion, a P/E ratio of 51.70, a PEG ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a 50-day simple moving average of $83.76 and a 200-day simple moving average of $87.56.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. During the same period last year, the firm earned $0.80 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. As a group, analysts forecast that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be given a $0.62 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s payout ratio is currently 151.22%.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. UBS Group set a $94.00 price objective on shares of Starbucks and gave the company a “neutral” rating in a report on Tuesday, October 21st. Barclays dropped their target price on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Wednesday, October 22nd. TD Cowen reaffirmed a “hold” rating and set a $84.00 price target on shares of Starbucks in a report on Thursday, October 30th. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a report on Thursday, October 30th. Finally, Guggenheim boosted their target price on Starbucks from $79.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

About Starbucks

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.