Van ECK Associates Corp Sells 4,864 Shares of Starbucks Co. (NASDAQ:SBUX)

Van ECK Associates Corp reduced its holdings in Starbucks Co. (NASDAQ:SBUXFree Report) by 5.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 78,588 shares of the coffee company’s stock after selling 4,864 shares during the quarter. Van ECK Associates Corp’s holdings in Starbucks were worth $7,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Valley Brook Capital Group Inc. boosted its holdings in shares of Starbucks by 2.4% during the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after buying an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. boosted its holdings in shares of Starbucks by 4.6% during the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock worth $206,000 after buying an additional 100 shares during the period. Investment Advisory Services Inc. TX ADV boosted its holdings in shares of Starbucks by 0.7% during the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 14,194 shares of the coffee company’s stock worth $1,408,000 after buying an additional 100 shares during the period. Chilton Capital Management LLC boosted its holdings in shares of Starbucks by 16.1% during the 2nd quarter. Chilton Capital Management LLC now owns 729 shares of the coffee company’s stock worth $72,000 after buying an additional 101 shares during the period. Finally, Fort Point Capital Partners LLC raised its stake in Starbucks by 3.9% in the 2nd quarter. Fort Point Capital Partners LLC now owns 2,709 shares of the coffee company’s stock worth $268,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 70.13% of the company’s stock.

Starbucks Price Performance

SBUX opened at $97.30 on Friday. Starbucks Co. has a fifty-two week low of $89.21 and a fifty-two week high of $115.48. The firm has a market capitalization of $110.16 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.53 and a beta of 0.99. The company’s 50 day moving average price is $94.72 and its two-hundred day moving average price is $96.59.

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

Starbucks Announces Dividend

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

Insiders Place Their Bets

In other Starbucks news, EVP Sara Kelly sold 250 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $104.45, for a total transaction of $26,112.50. Following the sale, the executive vice president now directly owns 47,532 shares of the company’s stock, valued at approximately $4,964,717.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Michael Aaron Conway sold 6,500 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $104.77, for a total value of $681,005.00. Following the sale, the insider now directly owns 72,822 shares of the company’s stock, valued at approximately $7,629,560.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Sara Kelly sold 250 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $104.45, for a total transaction of $26,112.50. Following the completion of the sale, the executive vice president now directly owns 47,532 shares in the company, valued at $4,964,717.40. 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. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on SBUX shares. Gordon Haskett cut shares of Starbucks from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a research note on Tuesday, January 16th. Piper Sandler dropped 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. Citigroup lifted their price objective on shares of Starbucks from $102.00 to $103.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 31st. Wedbush reiterated a “neutral” rating and issued a $95.00 price objective on shares of Starbucks in a research note on Wednesday, January 31st. Finally, Barclays dropped their target price on shares of Starbucks from $116.00 to $112.00 and set an “overweight” rating for the company in a research report on Wednesday, January 31st. Eleven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $111.43.

View Our Latest Stock Report on Starbucks

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.

Further Reading

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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