Sanctuary Advisors LLC Sells 6,653 Shares of Starbucks Co. (NASDAQ:SBUX)

Sanctuary Advisors LLC cut its position in Starbucks Co. (NASDAQ:SBUX) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 233,606 shares of the coffee company’s stock after selling 6,653 shares during the quarter. Sanctuary Advisors LLC’s holdings in Starbucks were worth $23,945,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Riverview Trust Co boosted its position in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares during the period. Essex Savings Bank raised its position in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after buying an additional 112 shares in the last quarter. Virtue Capital Management LLC boosted its stake in shares of Starbucks by 1.7% in the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after buying an additional 115 shares during the period. DT Investment Partners LLC grew its position in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares in the last quarter. Finally, Childress Capital Advisors LLC raised its holdings in Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after acquiring an additional 126 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. BMO Capital Markets raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. UBS Group lifted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Down 0.6 %

NASDAQ SBUX opened at $97.82 on Friday. The company has a market capitalization of $110.91 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 2.89 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The stock has a fifty day simple moving average of $98.22 and a 200 day simple moving average of $89.31.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.06 earnings per share. Research analysts expect that Starbucks Co. will post 3.11 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date is Friday, February 14th. Starbucks’s dividend payout ratio is currently 73.72%.

Starbucks Company 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.