Kercheville Advisors LLC Cuts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Kercheville Advisors LLC lessened its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 44,425 shares of the coffee company’s stock after selling 4,417 shares during the quarter. Starbucks makes up approximately 1.8% of Kercheville Advisors LLC’s investment portfolio, making the stock its 19th biggest holding. Kercheville Advisors LLC’s holdings in Starbucks were worth $4,331,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the second quarter worth approximately $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter worth $26,000. Stephens Consulting LLC increased its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new stake in Starbucks in the second quarter worth $27,000. Finally, Olistico Wealth LLC purchased a new stake in Starbucks in the second quarter worth $31,000. 72.29% of the stock is currently owned by institutional investors.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $97.31 on Monday. The company has a market capitalization of $110.27 billion, a PE ratio of 27.26, a price-to-earnings-growth ratio of 2.59 and a beta of 0.97. The company’s fifty day moving average price is $95.48 and its 200 day moving average price is $85.03. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period last year, the company earned $1.00 earnings per share. On average, equities analysts expect that Starbucks Co. will post 3.34 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is presently 63.87%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SBUX shares. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a research note on Wednesday, August 21st. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a report on Tuesday, August 13th. Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $102.48.

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.