Starbucks Corporation $SBUX Shares Sold by Generali Investments Management Co LLC

Generali Investments Management Co LLC lessened its position in Starbucks Corporation (NASDAQ:SBUX) by 23.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 3,206 shares of the coffee company’s stock after selling 984 shares during the quarter. Generali Investments Management Co LLC’s holdings in Starbucks were worth $293,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. PUREfi Wealth LLC acquired a new position in Starbucks during the second quarter worth about $286,000. Narwhal Capital Management grew its position in shares of Starbucks by 39.6% in the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after purchasing an additional 9,282 shares in the last quarter. Napa Wealth Management acquired a new stake in shares of Starbucks in the first quarter valued at approximately $1,435,000. Morningstar Investment Management LLC purchased a new position in Starbucks during the second quarter worth approximately $653,000. Finally, Pegasus Asset Management Inc. purchased a new position in Starbucks during the second quarter worth approximately $1,289,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of recent research reports. Citigroup cut their target price on Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. BTIG Research restated a “buy” rating and set a $105.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. Guggenheim boosted their target price on shares of Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, July 31st. Barclays dropped their price target on shares of Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research note on Wednesday, October 22nd. Finally, BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Stock Down 1.9%

SBUX opened at $84.78 on Friday. Starbucks Corporation has a 52 week low of $75.50 and a 52 week high of $117.46. The business has a fifty day simple moving average of $83.76 and a 200-day simple moving average of $87.58. The firm has a market cap of $96.37 billion, a P/E ratio of 51.70, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter in the prior year, the firm posted $0.80 EPS. Starbucks’s quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 28th. Investors of record on Friday, November 14th will be issued a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.9%. This is an increase from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

Insiders Place Their Bets

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

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.