Main Street Financial Solutions LLC Decreases Stake in Starbucks Co. (NASDAQ:SBUX)

Main Street Financial Solutions LLC decreased its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,891 shares of the coffee company’s stock after selling 327 shares during the quarter. Main Street Financial Solutions LLC’s holdings in Starbucks were worth $477,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC purchased a new position in Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Starbucks in the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several research reports. Barclays reduced their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Citigroup lifted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Monday. JPMorgan Chase & Co. upped their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, BTIG Research raised their price objective on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.31.

Starbucks Trading Down 0.6 %

Shares of Starbucks stock opened at $99.23 on Friday. The stock has a market capitalization of $112.45 billion, a P/E ratio of 29.98, a PEG ratio of 2.89 and a beta of 0.97. The business’s fifty day moving average price is $96.45 and its 200 day moving average price is $86.03. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the company earned $1.06 EPS. The company’s revenue was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 68.88%.

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.