166,453 Starbucks Corporation $SBUX Shares Sold by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. decreased its holdings in Starbucks Corporation (NASDAQ:SBUX) by 34.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 320,457 shares of the coffee company’s stock after selling 166,453 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Starbucks were worth $30,139,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Starbucks during the 2nd quarter worth about $25,000. Black Cypress Capital Management LLC acquired a new position in Starbucks in the 2nd quarter valued at about $27,000. Center for Financial Planning Inc. grew its stake in Starbucks by 125.2% in the 3rd quarter. Center for Financial Planning Inc. now owns 295 shares of the coffee company’s stock valued at $28,000 after buying an additional 164 shares during the last quarter. John Boyer Inc. bought a new position in Starbucks in the 3rd quarter valued at about $31,000. Finally, William Mack & Associates Inc. bought a new position in Starbucks in the 3rd quarter valued at about $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Down 0.8%

Shares of NASDAQ:SBUX opened at $106.44 on Friday. The company’s 50 day moving average price is $99.35 and its two-hundred day moving average price is $100.35. Starbucks Corporation has a 12-month low of $81.97 and a 12-month high of $111.50. The firm has a market cap of $121.34 billion, a PE ratio of 48.16, a PEG ratio of 1.77 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Thursday, October 29th. The coffee company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. Starbucks had a net margin of 6.66% and a negative return on equity of 38.61%. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.22 billion. During the same period last year, the firm earned $0.52 earnings per share. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, research analysts expect that Starbucks Corporation will post 3.22 EPS for the current 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 given a dividend of $0.63 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.62. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 13th. Starbucks’s dividend payout ratio (DPR) is currently 112.22%.

Insider Buying and Selling

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the firm’s stock in a transaction on Thursday, November 5th. The stock was sold at an average price of $110.00, for a total transaction of $245,190.00. Following the transaction, the chief executive officer owned 68,691 shares in the company, valued at $7,556,010. This trade represents a 3.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,687 shares of company stock worth $694,874. 0.03% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on SBUX shares. Piper Sandler raised their price objective on shares of Starbucks from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Stifel Nicolaus initiated coverage on Starbucks in a research report on Monday, November 9th. They issued a “buy” rating and a $115.00 target price on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research note on Friday, October 30th. JPMorgan Chase & Co. dropped their price target on Starbucks from $112.00 to $105.00 and set an “overweight” rating for the company in a report on Tuesday, September 29th. Finally, Citigroup lifted their price target on Starbucks from $104.00 to $107.00 and gave the stock a “neutral” rating in a report on Monday, November 2nd. Twenty-one research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $108.83.

Top Starbucks Stories

These are some of the SBUX stories that stood out recently:

• Positive Sentiment: Unusual options activity has been interpreted as bullish institutional sentiment, though options flows alone do not guarantee a lasting move in the shares. Starbucks’ unusual options activity points to bullish institutional sentiment
• Neutral Sentiment: Starbucks is granting stock awards and performance-based bonuses to many employees, aiming to align staff with sales and its “Back to Starbucks” effort. The incentives may help execution and retention, but also represent a cost. Starbucks is Putting More Money in Employees’ Pockets
• Negative Sentiment: Analyst commentary flags revenue headwinds and rising competition, while Citi maintained a Hold rating and $107 price target, citing valuation and execution risks. South Korea sales figures also drew attention to potential weakness in that market. Starbucks Hold Maintained as Turnaround Progress Faces Valuation and Execution Risks Starbucks Stock Slips as Korean Sales Figures Come In

Starbucks Company Profile

Starbucks Corporation is a global coffee company that roasts, markets and sells coffee and other beverages, along with food and related merchandise. Its offerings include brewed coffee, espresso-based drinks, teas and packaged coffee products. The company serves customers through company-operated and licensed stores, as well as through retail and food-service partnerships. Its stores also sell items such as mugs and coffee-making equipment. Founded in Seattle in 1971, Starbucks operates in North America and international markets, including China.