STF Management LP Sells 1,737 Shares of Starbucks Co. (NASDAQ:SBUX)

22 Nov 2024, 09:34 by Scott Moore · The Cerbat Gem

STF Management LP cut its holdings in Starbucks Co. (NASDAQ:SBUX – Free Report) by 9.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,371 shares of the coffee company’s stock after selling 1,737 shares during the period. STF Management LP’s holdings in Starbucks were worth $1,596,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Dakota Wealth Management grew its holdings in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after acquiring an additional 300 shares in the last quarter. Weil Company Inc. grew its holdings in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares in the last quarter. Maia Wealth LLC grew its holdings in shares of Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares in the last quarter. Aljian Capital Management LLC grew its holdings in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after acquiring an additional 9,936 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after acquiring an additional 9,900 shares in the last quarter. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 1.7 %

SBUX opened at $99.97 on Friday. The stock has a market cap of $113.29 billion, a PE ratio of 30.20, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $104.68. The business’s fifty day simple moving average is $97.03 and its 200 day simple moving average is $86.79.

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

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. 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 2.44%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SBUX. Stifel Nicolaus upped their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Barclays dropped their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Get Our Latest Stock Report on Starbucks

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Profile

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