14,928 Starbucks Corporation $SBUX Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA lessened its stake in Starbucks Corporation (NASDAQ:SBUX) by 1.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 918,995 shares of the coffee company’s stock after selling 14,928 shares during the period. Starbucks accounts for approximately 1.0% of Everett Harris & Co. CA’s investment portfolio, making the stock its 20th largest holding. Everett Harris & Co. CA owned about 0.08% of Starbucks worth $86,349,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. bought a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. Black Cypress Capital Management LLC bought a new position in shares of Starbucks during the 2nd quarter worth approximately $27,000. Center for Financial Planning Inc. raised its stake in shares of Starbucks by 125.2% during the 3rd quarter. Center for Financial Planning Inc. now owns 295 shares of the coffee company’s stock worth $28,000 after acquiring an additional 164 shares in the last quarter. Financial Freedom LLC lifted its position in Starbucks by 296.2% during the first quarter. Financial Freedom LLC now owns 313 shares of the coffee company’s stock valued at $28,000 after acquiring an additional 234 shares during the last quarter. Finally, Bangor Savings Bank lifted its position in Starbucks by 207.5% during the second quarter. Bangor Savings Bank now owns 326 shares of the coffee company’s stock valued at $33,000 after acquiring an additional 220 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $105.60, for a total transaction of $235,382.40. Following the completion of the transaction, the chief executive officer directly owned 73,149 shares in the company, valued at approximately $7,724,534.40. This represents a 2.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 6,687 shares of company stock worth $685,935 in the last ninety days. Corporate insiders own 0.03% of the company’s stock.

Starbucks Stock Up 2.2%

Shares of SBUX stock opened at $105.51 on Friday. The stock has a market cap of $120.28 billion, a PE ratio of 42.47, a price-to-earnings-growth ratio of 1.57 and a beta of 0.98. The business has a 50-day simple moving average of $99.26 and a 200-day simple moving average of $99.63. Starbucks Corporation has a 52-week low of $77.99 and a 52-week high of $110.51.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.22 billion. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. Sell-side analysts anticipate that Starbucks Corporation will post 2.64 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Friday, November 13th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 13th. This is a boost from Starbucks’s previous quarterly dividend of $0.62. Starbucks’s payout ratio is presently 142.53%.

Key Starbucks News

Here are the key news stories impacting Starbucks this week:

• Positive Sentiment: Strong U.S. comparable sales and earnings: U.S. comparable-store sales increased 7.7%, ahead of expectations, while global comparable sales rose 7.2%. Adjusted earnings of $0.80 per share exceeded consensus estimates near $0.72-$0.73 and rose from $0.52 a year earlier. Higher average customer spending, Matcha, Refreshers, cold foam and merchandise helped drive results. Starbucks beats quarterly sales and profit expectations
• Positive Sentiment: Turnaround initiatives are gaining traction: CEO Brian Niccol said the “Back to Starbucks” plan is beginning to transition from a recovery effort into a growth strategy. Management is emphasizing service, employee coaching, store improvements and technology, including testing artificial intelligence in drive-throughs to speed ordering. Starbucks to Test AI in Drive-Thrus to Speed Up Orders
• Neutral Sentiment: Long-term expansion remains ambitious: Starbucks plans to accelerate international development and ultimately target nearly 40,000 stores abroad, potentially supporting future revenue growth but requiring significant investment and execution. Starbucks targets 40,000 stores abroad
• Negative Sentiment: Revenue and outlook disappointed: Quarterly revenue declined roughly 4% to $9.14 billion, below estimates of about $9.22-$9.23 billion. Management also lowered full-year growth guidance to approximately 4%, suggesting the recovery may be slower than investors hoped. Starbucks revenue miss overshadows solid results
• Negative Sentiment: International operations remain a drag: International comparable sales missed expectations, while China restructuring weighed on consolidated revenue. U.S. sales growth also relied more on larger customer checks than increased store visits, raising questions about the durability of momentum. Starbucks international business disappoints

Analyst Ratings Changes

Several brokerages have recently commented on SBUX. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $126.00 price objective (up from $120.00) on shares of Starbucks in a report on Thursday, July 30th. Royal Bank Of Canada restated a “sector perform” rating and set a $115.00 target price (up from $110.00) on shares of Starbucks in a research note on Thursday, July 30th. JPMorgan Chase & Co. reduced their target price on Starbucks from $112.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 29th. BNP Paribas Exane upped their target price on Starbucks from $87.00 to $92.00 and gave the company an “underperform” rating in a research report on Thursday, July 30th. Finally, Wells Fargo & Company decreased their price target on Starbucks from $125.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, October 21st. Twenty-three analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $110.53.

Starbucks Company Profile

Starbucks Corporation is a global specialty coffee company headquartered in Seattle, Washington. Founded in 1971, the company operates and licenses coffeehouses under the Starbucks brand, serving brewed coffee, espresso beverages, teas, cold drinks, food, and other ready-to-consume products.

In addition to its company-operated and licensed stores, Starbucks sells packaged coffee, tea, and single-serve products through grocery retailers, convenience stores, and other distribution channels.