AdvisorNet Financial Inc Sells 5,076 Shares of Starbucks Co. (NASDAQ:SBUX)

AdvisorNet Financial Inc lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 39.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,814 shares of the coffee company’s stock after selling 5,076 shares during the period. AdvisorNet Financial Inc’s holdings in Starbucks were worth $597,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Starbucks by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 101,414,654 shares of the coffee company’s stock worth $9,225,691,000 after purchasing an additional 2,733,608 shares in the last quarter. BlackRock Inc. grew its position in shares of Starbucks by 10.3% during the 4th quarter. BlackRock Inc. now owns 82,463,592 shares of the coffee company’s stock worth $9,645,766,000 after purchasing an additional 7,672,037 shares in the last quarter. State Street Corp grew its position in shares of Starbucks by 3.5% during the 4th quarter. State Street Corp now owns 48,495,841 shares of the coffee company’s stock worth $5,672,559,000 after purchasing an additional 1,649,721 shares in the last quarter. Fundsmith LLP grew its position in shares of Starbucks by 7.7% during the 4th quarter. Fundsmith LLP now owns 11,576,749 shares of the coffee company’s stock worth $1,354,132,000 after purchasing an additional 831,723 shares in the last quarter. Finally, Capital Research Global Investors boosted its position in shares of Starbucks by 28.0% during the 1st quarter. Capital Research Global Investors now owns 10,948,617 shares of the coffee company’s stock worth $995,996,000 after acquiring an additional 2,395,500 shares in the last quarter. Institutional investors and hedge funds own 67.97% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SBUX. JPMorgan Chase & Co. increased their price target on shares of Starbucks from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 14th. Citigroup increased their price target on shares of Starbucks from $90.00 to $94.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 7th. Wedbush increased their price target on shares of Starbucks from $86.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Starbucks from $93.00 to $101.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, UBS Group increased their price target on shares of Starbucks from $82.00 to $87.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd. Fifteen equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks currently has an average rating of “Hold” and a consensus price target of $104.71.

Insider Buying and Selling at Starbucks

In other Starbucks news, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total value of $373,860.00. Following the completion of the sale, the executive vice president now directly owns 36,337 shares of the company’s stock, valued at $3,379,341. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Mellody L. Hobson purchased 54,750 shares of the firm’s stock in a transaction on Thursday, September 15th. The stock was purchased at an average cost of $92.58 per share, with a total value of $5,068,755.00. Following the completion of the purchase, the director now owns 433,254 shares in the company, valued at approximately $40,110,655.32. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the sale, the executive vice president now directly owns 36,337 shares of the company’s stock, valued at $3,379,341. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Starbucks Stock Down 1.0 %

Shares of NASDAQ SBUX opened at $91.31 on Monday. Starbucks Co. has a twelve month low of $68.39 and a twelve month high of $117.80. The firm has a fifty day simple moving average of $85.13 and a 200 day simple moving average of $81.42. The company has a market capitalization of $104.77 billion, a PE ratio of 25.72, a P/E/G ratio of 2.46 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Rating) last announced its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. During the same quarter in the prior year, the firm earned $1.01 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 2.88 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.15%. The ex-dividend date was Thursday, August 11th. Starbucks’s dividend payout ratio (DPR) is currently 55.21%.

Starbucks Profile

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

See Also

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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