D.B. Root & Company LLC Sells 360 Shares of Starbucks Co. (NASDAQ:SBUX)

D.B. Root & Company LLC reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 2.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,559 shares of the coffee company’s stock after selling 360 shares during the quarter. D.B. Root & Company LLC’s holdings in Starbucks were worth $1,712,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co grew its stake in shares of Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after buying an additional 105 shares during the last quarter. DT Investment Partners LLC grew its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the last quarter. Childress Capital Advisors LLC grew its stake in shares of Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after buying an additional 126 shares during the last quarter. Keystone Wealth Services LLC grew its stake in shares of Starbucks by 1.3% in the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after buying an additional 130 shares during the last quarter. Finally, Chicago Capital LLC grew its stake in shares of Starbucks by 0.6% in the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock worth $2,060,000 after buying an additional 132 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, 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 cost of $91.50 per share, with a total value of $34,770.00. Following the completion of 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 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 $96.08 on Thursday. The company has a market cap of $108.88 billion, a P/E ratio of 29.03, a P/E/G ratio of 2.81 and a beta of 0.97. The firm’s fifty day moving average is $95.99 and its two-hundred day moving average is $85.67. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

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

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Wall Street Analyst Weigh In

SBUX has been the topic of several recent research reports. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, October 23rd. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Finally, BMO Capital Markets upped their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $103.32.

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.