Starbucks Corporation $SBUX Shares Sold by Arjuna Capital

Arjuna Capital cut its position in Starbucks Corporation (NASDAQ:SBUX) by 20.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 19,814 shares of the coffee company’s stock after selling 5,042 shares during the period. Arjuna Capital’s holdings in Starbucks were worth $1,816,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Game Plan Financial Advisors LLC purchased a new position in Starbucks during the 2nd quarter valued at about $25,000. Chelsea Counsel Co. purchased a new position in shares of Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC boosted its stake in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. MTM Investment Management LLC acquired a new position in shares of Starbucks in the second quarter valued at approximately $28,000. Finally, McClarren Financial Advisors Inc. purchased a new stake in Starbucks during the 1st quarter worth approximately $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 11,700 shares of the stock in a transaction dated Monday, November 10th. The shares were acquired at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the acquisition, the director directly owned 53,096 shares in the company, valued at approximately $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. Dbs Bank lowered Starbucks from a “hold” rating to a “strong sell” rating in a report on Friday, November 7th. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and increased their price target for the company from $100.00 to $115.00 in a research report on Tuesday, August 12th. Finally, Barclays lowered their price objective on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a research report on Wednesday, October 22nd. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $101.44.

Starbucks Price Performance

NASDAQ SBUX opened at $84.91 on Tuesday. The company has a market capitalization of $96.55 billion, a PE ratio of 51.77, a P/E/G ratio of 4.28 and a beta of 1.02. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a fifty day moving average of $84.05 and a two-hundred day moving average of $87.70.

Starbucks (NASDAQ:SBUX) 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 business had revenue of $9.57 billion for the quarter, compared to analysts’ expectations of $9.41 billion. Starbucks had a negative return on equity of 31.84% and a net margin of 4.99%.The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.80 earnings per share. On average, research analysts expect that Starbucks Corporation will post 2.99 earnings per share for the current 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 given a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Friday, November 14th. This is an increase from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is currently 151.22%.

About Starbucks

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.