Starbucks Corporation $SBUX Shares Sold by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. reduced its holdings in Starbucks Corporation (NASDAQ:SBUX) by 32.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,292 shares of the coffee company’s stock after selling 6,281 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Starbucks were worth $1,218,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Starbucks during the 2nd quarter valued at about $593,000. Correct Capital Wealth Management boosted its position in shares of Starbucks by 4.6% in the second quarter. Correct Capital Wealth Management now owns 3,523 shares of the coffee company’s stock worth $323,000 after acquiring an additional 154 shares during the last quarter. Inceptionr LLC acquired a new stake in shares of Starbucks in the second quarter worth approximately $912,000. Country Trust Bank increased its position in Starbucks by 65.4% during the second quarter. Country Trust Bank now owns 1,029 shares of the coffee company’s stock worth $94,000 after purchasing an additional 407 shares during the last quarter. Finally, J.W. Cole Advisors Inc. increased its position in Starbucks by 6.6% during the second quarter. J.W. Cole Advisors Inc. now owns 30,149 shares of the coffee company’s stock worth $2,763,000 after purchasing an additional 1,871 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.9%

SBUX opened at $86.70 on Friday. The firm has a market capitalization of $98.59 billion, a P/E ratio of 52.87, a P/E/G ratio of 4.28 and a beta of 1.02. The firm’s 50 day moving average is $84.01 and its 200-day moving average is $87.70. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share 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 last year, the company posted $0.80 earnings per share. Starbucks’s revenue for the quarter was up 5.5% compared to the same quarter last year. Equities analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

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

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the business’s stock in a transaction that occurred 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 completion of the purchase, the director owned 53,096 shares in the company, valued at $4,513,160. The trade was a 28.26% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SBUX. Morgan Stanley set a $105.00 target price on Starbucks and gave the stock an “overweight” rating in a research report on Monday, October 20th. BTIG Research reissued a “buy” rating and set a $105.00 target price on shares of Starbucks in a research report on Thursday, October 30th. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Royal Bank Of Canada set a $100.00 price objective on shares of Starbucks and gave the stock an “outperform” rating in a research note on Thursday, October 30th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. One investment 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 an average rating of “Moderate Buy” and a consensus target price of $101.44.

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.