Viewpoint Capital Management LLC Trims Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Viewpoint Capital Management LLC reduced its position in shares of Starbucks Co. (NASDAQ:SBUX) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,377 shares of the coffee company’s stock after selling 115 shares during the period. Viewpoint Capital Management LLC’s holdings in Starbucks were worth $426,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the second quarter valued at approximately $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter worth approximately $26,000. Stephens Consulting LLC increased its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks in the second quarter worth approximately $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth $31,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 0.2 %

SBUX stock traded up $0.16 during midday trading on Friday, hitting $97.31. 9,665,550 shares of the company traded hands, compared to its average volume of 11,366,117. The stock has a market capitalization of $110.22 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The business has a 50 day simple moving average of $95.48 and a 200-day simple moving average of $85.05.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. During the same period in the prior year, the business posted $1.00 earnings per share. The business’s revenue was down .6% compared to the same quarter last year. Equities research analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared 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. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is 67.22%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SBUX. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. UBS Group upped their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday. DZ Bank downgraded 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. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

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.