Gamco Investors INC. ET AL Sells 29,333 Shares of Starbucks Co. (NASDAQ:SBUX)

Gamco Investors INC. ET AL reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUXFree Report) by 74.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,314 shares of the coffee company’s stock after selling 29,333 shares during the period. Gamco Investors INC. ET AL’s holdings in Starbucks were worth $941,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Blueshift Asset Management LLC purchased a new stake in Starbucks in the 3rd quarter valued at about $318,000. Soltis Investment Advisors LLC grew its stake in Starbucks by 2.8% in the third quarter. Soltis Investment Advisors LLC now owns 9,998 shares of the coffee company’s stock worth $912,000 after purchasing an additional 271 shares in the last quarter. Atria Wealth Solutions Inc. increased its holdings in Starbucks by 1.5% during the 3rd quarter. Atria Wealth Solutions Inc. now owns 124,387 shares of the coffee company’s stock worth $11,353,000 after purchasing an additional 1,800 shares during the period. Mattern Capital Management LLC raised its position in Starbucks by 14.5% during the 3rd quarter. Mattern Capital Management LLC now owns 93,041 shares of the coffee company’s stock valued at $8,492,000 after purchasing an additional 11,801 shares in the last quarter. Finally, Sowell Financial Services LLC lifted its holdings in shares of Starbucks by 3.6% in the 3rd quarter. Sowell Financial Services LLC now owns 85,394 shares of the coffee company’s stock worth $7,794,000 after buying an additional 2,959 shares during the period. Hedge funds and other institutional investors own 70.13% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $97.30 on Friday. The company’s fifty day moving average price is $94.72 and its 200-day moving average price is $96.63. Starbucks Co. has a 1-year low of $89.21 and a 1-year high of $115.48. The firm has a market capitalization of $110.16 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 1.52 and a beta of 0.99.

Starbucks (NASDAQ:SBUXGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a net margin of 11.70% and a negative return on equity of 50.76%. The firm had revenue of $9.43 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. As a group, research analysts anticipate that Starbucks Co. will post 4.07 EPS for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be paid a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, February 8th. Starbucks’s payout ratio is 60.96%.

Insider Activity

In related news, insider Michael Aaron Conway sold 6,500 shares of the business’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total transaction of $681,005.00. Following the completion of the transaction, the insider now directly owns 72,822 shares in the company, valued at $7,629,560.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Michael Aaron Conway sold 6,500 shares of Starbucks stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $104.77, for a total transaction of $681,005.00. Following the completion of the transaction, the insider now directly owns 72,822 shares in the company, valued at $7,629,560.94. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 504 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $105.66, for a total value of $53,252.64. Following the completion of the sale, the chief financial officer now owns 75,027 shares in the company, valued at approximately $7,927,352.82. The disclosure for this sale can be found here. Insiders have sold 7,754 shares of company stock valued at $807,565 in the last ninety days. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SBUX. BMO Capital Markets decreased their price objective on Starbucks from $125.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, January 31st. Wedbush reiterated a “neutral” rating and set a $95.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Piper Sandler reduced their price objective on shares of Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, January 19th. Barclays dropped their target price on Starbucks from $116.00 to $112.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 31st. Finally, Gordon Haskett lowered Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price target for the company. in a research report on Tuesday, January 16th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $111.43.

View Our Latest Analysis on SBUX

About Starbucks

(Free Report)

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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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