Pittenger & Anderson Inc. Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Pittenger & Anderson Inc. trimmed its position in shares of Starbucks Co. (NASDAQ:SBUXGet Rating) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,944 shares of the coffee company’s stock after selling 187 shares during the quarter. Pittenger & Anderson Inc.’s holdings in Starbucks were worth $530,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Guardian Wealth Management Inc. acquired a new position in shares of Starbucks during the fourth quarter valued at about $25,000. Delos Wealth Advisors LLC acquired a new position in shares of Starbucks during the fourth quarter valued at about $28,000. Bromfield Sneider Wealth Advisors acquired a new position in shares of Starbucks during the first quarter valued at about $25,000. Burleson & Company LLC increased its holdings in shares of Starbucks by 2,660.0% during the first quarter. Burleson & Company LLC now owns 276 shares of the coffee company’s stock valued at $25,000 after acquiring an additional 266 shares in the last quarter. Finally, Herold Advisors Inc. acquired a new position in shares of Starbucks during the first quarter valued at about $29,000. 67.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Starbucks news, Director Mellody L. Hobson bought 54,750 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were purchased at an average price of $92.58 per share, with a total value of $5,068,755.00. Following the purchase, the director now directly owns 433,254 shares of the company’s stock, valued at $40,110,655.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mellody L. Hobson purchased 54,750 shares of the stock in a transaction dated Thursday, September 15th. The shares were bought at an average cost of $92.58 per share, for a total transaction of $5,068,755.00. Following the transaction, the director now owns 433,254 shares in the company, valued at $40,110,655.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Zabrina Jenkins sold 4,020 shares of Starbucks stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $93.00, for a total value of $373,860.00. Following the completion of the transaction, the executive vice president now owns 36,337 shares in the company, valued at $3,379,341. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Starbucks Stock Down 4.4 %

Shares of NASDAQ:SBUX opened at $84.70 on Friday. Starbucks Co. has a 52-week low of $68.39 and a 52-week high of $117.80. The stock’s fifty day simple moving average is $86.02 and its 200-day simple moving average is $81.48. The company has a market capitalization of $97.18 billion, a P/E ratio of 23.86, a P/E/G ratio of 2.39 and a beta of 0.94.

Starbucks (NASDAQ:SBUXGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. Starbucks had a negative return on equity of 47.28% and a net margin of 13.03%. The company had revenue of $8.15 billion for the quarter, compared to the consensus estimate of $8.22 billion. During the same period last year, the business posted $1.01 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 2.88 earnings per share for the current year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 12th were issued a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 11th. Starbucks’s dividend payout ratio is presently 55.21%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SBUX. Deutsche Bank Aktiengesellschaft increased their price target on shares of Starbucks from $93.00 to $101.00 and gave the stock a “buy” rating in a report on Thursday, September 15th. Wedbush increased their price target on shares of Starbucks from $86.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, September 14th. Cowen increased their price target on shares of Starbucks from $94.00 to $104.00 in a report on Thursday, August 18th. Barclays increased their price target on shares of Starbucks from $96.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, September 14th. Finally, Citigroup increased their price target on shares of Starbucks from $90.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, September 7th. Sixteen research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $104.71.

Starbucks Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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