Integrated Advisors Network LLC Lowers Stock Position in Starbucks Co. (NASDAQ:SBUX)

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Integrated Advisors Network LLC cut its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 89.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,711 shares of the coffee company’s stock after selling 94,388 shares during the period. Integrated Advisors Network LLC’s holdings in Starbucks were worth $1,006,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Morgan Stanley raised its stake in Starbucks by 15.1% during the first quarter. Morgan Stanley now owns 16,926,014 shares of the coffee company’s stock worth $1,112,717,000 after acquiring an additional 2,219,969 shares during the period. Kistler Tiffany Companies LLC raised its stake in Starbucks by 28.3% during the second quarter. Kistler Tiffany Companies LLC now owns 7,114 shares of the coffee company’s stock worth $523,000 after acquiring an additional 1,571 shares during the period. Stack Financial Management Inc raised its stake in Starbucks by 0.8% during the second quarter. Stack Financial Management Inc now owns 380,520 shares of the coffee company’s stock worth $28,002,000 after acquiring an additional 3,151 shares during the period. Valeo Financial Advisors LLC raised its stake in Starbucks by 82.0% during the second quarter. Valeo Financial Advisors LLC now owns 44,653 shares of the coffee company’s stock worth $3,286,000 after acquiring an additional 20,120 shares during the period. Finally, YorkBridge Wealth Partners LLC raised its stake in Starbucks by 61.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 23,991 shares of the coffee company’s stock worth $1,765,000 after acquiring an additional 9,106 shares during the period. 68.36% of the stock is owned by institutional investors.

In related news, CEO Kevin R. Johnson sold 107,764 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $96.78, for a total value of $10,429,399.92. Following the completion of the transaction, the chief executive officer now owns 404,701 shares of the company’s stock, valued at approximately $39,166,962.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Myron E. Ullman III sold 4,252 shares of the firm’s stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $86.97, for a total transaction of $369,796.44. Following the completion of the transaction, the director now directly owns 22,776 shares of the company’s stock, valued at approximately $1,980,828.72. The disclosure for this sale can be found here. Insiders sold a total of 275,066 shares of company stock valued at $25,716,324 in the last ninety days. Company insiders own 0.41% of the company’s stock.

NASDAQ:SBUX traded down $0.36 during trading hours on Tuesday, reaching $97.42. 130,621 shares of the company’s stock were exchanged, compared to its average volume of 10,225,826. The company has a market capitalization of $114.30 billion, a P/E ratio of 88.09, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81. Starbucks Co. has a 12 month low of $50.02 and a 12 month high of $97.81. The business’s 50-day simple moving average is $89.39 and its two-hundred day simple moving average is $80.98.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Thursday, October 29th. The coffee company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.20. The firm had revenue of $6.20 billion during the quarter, compared to analysts’ expectations of $6.07 billion. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The firm’s revenue for the quarter was down 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.70 earnings per share. On average, sell-side analysts forecast that Starbucks Co. will post 0.99 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.85%. This is a boost from Starbucks’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, November 10th. Starbucks’s dividend payout ratio (DPR) is presently 63.60%.

Several research firms recently weighed in on SBUX. Cowen upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $77.00 to $99.00 in a research note on Wednesday, September 30th. Oppenheimer raised their price target on shares of Starbucks from $85.00 to $101.00 and gave the company an “outperform” rating in a research note on Monday, October 5th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and set a $90.00 price target on the stock in a research note on Monday, August 24th. BidaskClub upgraded shares of Starbucks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 28th. Finally, UBS Group raised their price target on shares of Starbucks from $77.00 to $81.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Fourteen equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $88.35.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in three segments: Americas; International; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, and iced tea; 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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