VestGen Advisors LLC Cuts Stock Position in Starbucks Corporation $SBUX

by · The Markets Daily

VestGen Advisors LLC lessened its position in shares of Starbucks Corporation (NASDAQ:SBUX – Free Report) by 22.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,818 shares of the coffee company’s stock after selling 10,830 shares during the quarter. VestGen Advisors LLC’s holdings in Starbucks were worth $3,318,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SBUX. Nuveen LLC acquired a new position in shares of Starbucks during the first quarter worth $1,379,619,000. Norges Bank purchased a new position in Starbucks during the 2nd quarter worth $1,246,316,000. Polen Capital Management LLC acquired a new position in Starbucks during the 1st quarter valued at about $503,539,000. Goldman Sachs Group Inc. raised its stake in Starbucks by 59.5% in the first quarter. Goldman Sachs Group Inc. now owns 9,623,282 shares of the coffee company’s stock valued at $943,948,000 after buying an additional 3,589,537 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Starbucks by 22.3% in the first quarter. Wellington Management Group LLP now owns 19,414,472 shares of the coffee company’s stock valued at $1,904,366,000 after buying an additional 3,545,655 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of Starbucks stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the acquisition, the director owned 53,096 shares of the company’s stock, valued at $4,513,160. This trade represents a 28.26% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.09% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $100.00 to $115.00 in a research note on Tuesday, August 12th. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Morgan Stanley set a $105.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $101.44.

View Our Latest Stock Analysis on Starbucks

Starbucks Stock Performance

NASDAQ:SBUX opened at $87.04 on Monday. The firm’s fifty day moving average is $84.06 and its two-hundred day moving average is $87.72. The firm has a market cap of $98.97 billion, a price-to-earnings ratio of 53.07, a PEG ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a one year low of $75.50 and a one year high of $117.46.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The company had revenue of $9.57 billion during the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS. As a group, equities research analysts predict that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were issued a $0.62 dividend. The ex-dividend date of this dividend was Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. Starbucks’s dividend payout ratio is presently 151.22%.

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.

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