Curat Global LLC Lowers Stock Position in Starbucks Corporation $SBUX

Curat Global LLC reduced its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 82.0% during the third quarter, Holdings Channel reports. The firm owned 1,470 shares of the coffee company’s stock after selling 6,700 shares during the period. Curat Global LLC’s holdings in Starbucks were worth $123,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Game Plan Financial Advisors LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $25,000. Transce3nd LLC grew its stake in Starbucks by 270.3% in the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after purchasing an additional 200 shares during the period. Chelsea Counsel Co. purchased a new stake in shares of Starbucks during the 2nd quarter valued at $26,000. MTM Investment Management LLC bought a new stake in shares of Starbucks during the 2nd quarter worth $28,000. Finally, PFS Partners LLC boosted its holdings in shares of Starbucks by 457.4% in the 3rd quarter. PFS Partners LLC now owns 340 shares of the coffee company’s stock worth $29,000 after buying an additional 279 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Down 0.3%

NASDAQ SBUX opened at $92.99 on Friday. The firm has a market cap of $105.74 billion, a P/E ratio of 56.70, a price-to-earnings-growth ratio of 1.96 and a beta of 0.97. The company’s 50 day moving average is $86.06 and its 200-day moving average is $87.13. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The business had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.32%. The firm’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.80 earnings per share. Equities analysts expect that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s payout ratio is presently 151.22%.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the stock in a transaction dated Monday, November 10th. The shares were purchased at an average cost of $85.00 per share, with a total value of $994,500.00. Following the completion of the acquisition, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SBUX has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Starbucks in a research report on Monday, December 29th. Wall Street Zen raised shares of Starbucks from a “sell” rating to a “hold” rating in a report on Saturday, November 22nd. UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a research note on Tuesday, October 21st. Dbs Bank downgraded Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Finally, Mizuho set a $86.00 price target on Starbucks and gave the company a “neutral” rating in a research report on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, nine have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $102.56.

Starbucks Company Profile

Starbucks Corporation is a global coffeehouse chain and roaster that operates, licenses and franchises coffee shops and related retail businesses. Founded in Seattle, Washington in 1971 by Jerry Baldwin, Zev Siegl and Gordon Bowker, the company grew from a single store focused on whole-bean coffee and equipment into a broad consumer-facing brand. Howard Schultz, who joined the company later and served in senior leadership roles, is widely credited with transforming Starbucks into a mass-market specialty coffee retailer and expanding its footprint internationally.

Starbucks’ core activities center on the retail sale of hot and cold specialty beverages, whole-bean and packaged coffees, teas and ready-to-drink products, along with complementary food items and merchandise such as mugs and brewing equipment.