Ninety One UK Ltd Reduces Stake in Starbucks Co. (NASDAQ:SBUX)

Ninety One UK Ltd lessened its stake in Starbucks Co. (NASDAQ:SBUX) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 679,603 shares of the coffee company’s stock after selling 182,169 shares during the quarter. Ninety One UK Ltd’s holdings in Starbucks were worth $65,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Willow Creek Wealth Management Inc. raised its stake in Starbucks by 3.0% in the 3rd quarter. Willow Creek Wealth Management Inc. now owns 3,305 shares of the coffee company’s stock valued at $302,000 after acquiring an additional 97 shares during the period. Valley Brook Capital Group Inc. boosted its holdings in Starbucks by 2.4% in the 3rd quarter. Valley Brook Capital Group Inc. now owns 4,200 shares of the coffee company’s stock worth $383,000 after buying an additional 100 shares during the period. Charles Schwab Investment Advisory Inc. grew its stake in Starbucks by 4.6% in the 3rd quarter. Charles Schwab Investment Advisory Inc. now owns 2,260 shares of the coffee company’s stock valued at $206,000 after buying an additional 100 shares in the last quarter. Herold Advisors Inc. raised its holdings in Starbucks by 4.3% during the 3rd quarter. Herold Advisors Inc. now owns 2,422 shares of the coffee company’s stock valued at $221,000 after acquiring an additional 100 shares during the period. Finally, Rodgers Brothers Inc. boosted its holdings in shares of Starbucks by 1.2% in the third quarter. Rodgers Brothers Inc. now owns 8,269 shares of the coffee company’s stock worth $755,000 after acquiring an additional 100 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 1.0 %

Shares of SBUX stock traded up $0.84 during trading hours on Thursday, hitting $87.05. 4,965,387 shares of the company’s stock were exchanged, compared to its average volume of 8,317,680. Starbucks Co. has a 12-month low of $84.29 and a 12-month high of $115.48. The company has a market capitalization of $98.56 billion, a PE ratio of 23.05, a PEG ratio of 1.37 and a beta of 0.97. The business’s 50 day simple moving average is $91.33 and its 200-day simple moving average is $94.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, January 31st. The coffee company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.02). Starbucks had a negative return on equity of 50.76% and a net margin of 11.70%. The business had revenue of $9.43 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm earned $0.75 earnings per share. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts anticipate that Starbucks Co. will post 4.03 EPS for the current year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.57 dividend. The ex-dividend date is Thursday, May 16th. This represents a $2.28 annualized dividend and a yield of 2.62%. Starbucks’s payout ratio is currently 60.96%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBUX. BTIG Research dropped their price objective on Starbucks from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Wednesday, January 31st. TD Cowen reaffirmed a “hold” rating and set a $100.00 price objective on shares of Starbucks in a research note on Thursday, April 11th. Robert W. Baird lowered their target price on shares of Starbucks from $106.00 to $100.00 and set a “neutral” rating on the stock in a research note on Monday, March 18th. Jefferies Financial Group decreased their price target on shares of Starbucks from $100.00 to $94.00 and set a “hold” rating on the stock in a report on Tuesday. Finally, Piper Sandler reduced their target price on Starbucks from $107.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, January 19th. Thirteen investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Starbucks presently has a consensus rating of “Hold” and an average target price of $107.43.

Insider Transactions at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $85.39, for a total value of $277,517.50. Following the sale, the chief executive officer now owns 81,199 shares of the company’s stock, valued at approximately $6,933,582.61. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have sold 7,250 shares of company stock worth $653,183. Insiders own 1.98% of the company’s stock.

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.