Starbucks Corporation $SBUX Stock Sold by Everett Harris & Co. CA

Everett Harris & Co. CA reduced its stake in shares of Starbucks Corporation (NASDAQ:SBUX) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 918,995 shares of the coffee company’s stock after selling 14,928 shares during the period. Starbucks accounts for about 1.0% of Everett Harris & Co. CA’s portfolio, making the stock its 20th largest holding. Everett Harris & Co. CA’s holdings in Starbucks were worth $86,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. United Asset Strategies Inc. lifted its holdings in Starbucks by 3.0% during the 3rd quarter. United Asset Strategies Inc. now owns 147,011 shares of the coffee company’s stock worth $13,813,000 after buying an additional 4,256 shares in the last quarter. Choreo LLC grew its stake in shares of Starbucks by 3.8% in the third quarter. Choreo LLC now owns 42,338 shares of the coffee company’s stock worth $3,979,000 after acquiring an additional 1,550 shares in the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Starbucks by 11.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 38,511 shares of the coffee company’s stock worth $3,675,000 after acquiring an additional 4,098 shares in the last quarter. Childress Capital Advisors LLC acquired a new position in shares of Starbucks in the third quarter worth $230,000. Finally, North Star Investment Management Corp. raised its stake in shares of Starbucks by 0.5% in the third quarter. North Star Investment Management Corp. now owns 44,937 shares of the coffee company’s stock valued at $4,222,000 after acquiring an additional 229 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 2.2%

Shares of SBUX stock opened at $105.51 on Friday. The company has a market cap of $120.28 billion, a P/E ratio of 42.47, a PEG ratio of 1.57 and a beta of 0.98. The firm has a fifty day moving average price of $99.26 and a 200 day moving average price of $99.63. Starbucks Corporation has a 12 month low of $77.99 and a 12 month high of $110.51.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Thursday, October 29th. The coffee company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.08. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.22 billion. Starbucks had a negative return on equity of 34.10% and a net margin of 5.17%. Starbucks’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the firm earned $0.52 earnings per share. On average, equities analysts forecast that Starbucks Corporation will post 2.64 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Stockholders of record on Friday, November 13th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Friday, November 13th. This is an increase from Starbucks’s previous quarterly dividend of $0.62. Starbucks’s dividend payout ratio (DPR) is currently 142.53%.

Insider Buying and Selling at Starbucks

In other news, CEO Brady Brewer sold 588 shares of the firm’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $100.00, for a total transaction of $58,800.00. Following the sale, the chief executive officer owned 70,920 shares of the company’s stock, valued at approximately $7,092,000. This trade represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 6,687 shares of company stock worth $685,935. 0.03% of the stock is currently owned by company insiders.

Key Headlines Impacting Starbucks

Here are the key news stories impacting Starbucks this week:

• Positive Sentiment: Strong U.S. comparable sales and earnings: U.S. comparable-store sales increased 7.7%, ahead of expectations, while global comparable sales rose 7.2%. Adjusted earnings of $0.80 per share exceeded consensus estimates near $0.72-$0.73 and rose from $0.52 a year earlier. Higher average customer spending, Matcha, Refreshers, cold foam and merchandise helped drive results. Starbucks beats quarterly sales and profit expectations
• Positive Sentiment: Turnaround initiatives are gaining traction: CEO Brian Niccol said the “Back to Starbucks” plan is beginning to transition from a recovery effort into a growth strategy. Management is emphasizing service, employee coaching, store improvements and technology, including testing artificial intelligence in drive-throughs to speed ordering. Starbucks to Test AI in Drive-Thrus to Speed Up Orders
• Neutral Sentiment: Long-term expansion remains ambitious: Starbucks plans to accelerate international development and ultimately target nearly 40,000 stores abroad, potentially supporting future revenue growth but requiring significant investment and execution. Starbucks targets 40,000 stores abroad
• Negative Sentiment: Revenue and outlook disappointed: Quarterly revenue declined roughly 4% to $9.14 billion, below estimates of about $9.22-$9.23 billion. Management also lowered full-year growth guidance to approximately 4%, suggesting the recovery may be slower than investors hoped. Starbucks revenue miss overshadows solid results
• Negative Sentiment: International operations remain a drag: International comparable sales missed expectations, while China restructuring weighed on consolidated revenue. U.S. sales growth also relied more on larger customer checks than increased store visits, raising questions about the durability of momentum. Starbucks international business disappoints

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of recent research reports. Jefferies Financial Group lifted their target price on Starbucks from $95.00 to $101.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Melius Research set a $110.00 price target on Starbucks in a report on Monday, August 3rd. Piper Sandler lifted their price objective on Starbucks from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 30th. Gordon Haskett boosted their price objective on Starbucks from $110.00 to $118.00 and gave the stock a “hold” rating in a research report on Thursday, July 30th. Finally, DA Davidson restated a “neutral” rating and set a $110.00 target price on shares of Starbucks in a research note on Friday, October 9th. Twenty-three equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $110.53.

Starbucks Profile

Starbucks Corporation is a global specialty coffee company headquartered in Seattle, Washington. Founded in 1971, the company operates and licenses coffeehouses under the Starbucks brand, serving brewed coffee, espresso beverages, teas, cold drinks, food, and other ready-to-consume products.

In addition to its company-operated and licensed stores, Starbucks sells packaged coffee, tea, and single-serve products through grocery retailers, convenience stores, and other distribution channels.