Patriot Financial Group Insurance Agency LLC Sells 12,382 Shares of Starbucks Corporation $SBUX

Patriot Financial Group Insurance Agency LLC trimmed its stake in Starbucks Corporation (NASDAQ:SBUX) by 57.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,021 shares of the coffee company’s stock after selling 12,382 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Starbucks were worth $763,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. PUREfi Wealth LLC bought a new position in Starbucks during the 2nd quarter valued at about $286,000. Narwhal Capital Management boosted its position in shares of Starbucks by 39.6% during the second quarter. Narwhal Capital Management now owns 32,738 shares of the coffee company’s stock valued at $3,000,000 after buying an additional 9,282 shares during the period. Napa Wealth Management bought a new position in shares of Starbucks during the first quarter valued at approximately $1,435,000. Morningstar Investment Management LLC purchased a new stake in shares of Starbucks in the second quarter worth approximately $653,000. Finally, Pegasus Asset Management Inc. bought a new stake in shares of Starbucks during the 2nd quarter worth approximately $1,289,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

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

Wall Street Analyst Weigh In

Several brokerages have commented on SBUX. UBS Group set a $94.00 price objective on Starbucks and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Wells Fargo & Company set a $100.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research note on Thursday, October 16th. BTIG Research reissued a “buy” rating and issued a $105.00 price objective on shares of Starbucks in a research report on Thursday, October 30th. Wall Street Zen raised shares of Starbucks from a “sell” rating to a “hold” rating in a research report on Saturday, November 22nd. Finally, Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $101.44.

Starbucks Stock Performance

Shares of SBUX opened at $88.33 on Friday. The company has a 50 day moving average price of $84.63 and a 200-day moving average price of $87.72. Starbucks Corporation has a fifty-two week low of $75.50 and a fifty-two week high of $117.46. The stock has a market capitalization of $100.44 billion, a PE ratio of 53.86, a PEG ratio of 1.82 and a beta of 0.98.

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 net margin of 4.99% and a negative return on equity of 31.32%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.80 earnings per share. Equities research analysts forecast that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date is Friday, February 13th. Starbucks’s dividend payout ratio is 151.22%.

About Starbucks

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.