Starbucks Co. (NASDAQ:SBUX) Shares Sold by Mizuho Securities USA LLC

by · The Markets Daily

Mizuho Securities USA LLC decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 15.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 73,482 shares of the coffee company’s stock after selling 13,857 shares during the quarter. Mizuho Securities USA LLC’s holdings in Starbucks were worth $7,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Quent Capital LLC lifted its holdings in shares of Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after acquiring an additional 385 shares in the last quarter. Capital Group Private Client Services Inc. lifted its holdings in Starbucks by 1.3% in the 1st quarter. Capital Group Private Client Services Inc. now owns 63,277 shares of the coffee company’s stock worth $5,783,000 after buying an additional 797 shares in the last quarter. Capital International Inc. CA lifted its holdings in Starbucks by 56.2% in the 1st quarter. Capital International Inc. CA now owns 43,245 shares of the coffee company’s stock worth $3,952,000 after buying an additional 15,557 shares in the last quarter. Capital World Investors acquired a new position in Starbucks in the 1st quarter worth $257,721,000. Finally, Guardian Capital LP lifted its holdings in Starbucks by 5.0% in the 1st quarter. Guardian Capital LP now owns 20,044 shares of the coffee company’s stock worth $1,832,000 after buying an additional 954 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were 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 in the company, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.1 %

Shares of NASDAQ:SBUX opened at $98.26 on Thursday. The company has a 50 day moving average of $97.01 and a 200-day moving average of $86.70. The firm has a market cap of $111.35 billion, a P/E ratio of 29.69, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $104.68.

Starbucks (NASDAQ:SBUX – Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.06 EPS. Equities research analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of recent analyst reports. Stifel Nicolaus boosted their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Wedbush dropped their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.81.

Read Our Latest Stock Report on SBUX

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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