Starbucks Corporation $SBUX Position Lowered by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lessened its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 34.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 320,457 shares of the coffee company’s stock after selling 166,453 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Starbucks were worth $30,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. BlackRock Inc. acquired a new position in Starbucks during the second quarter valued at approximately $8,504,509,000. State Street Corp lifted its stake in Starbucks by 3.2% during the second quarter. State Street Corp now owns 49,260,268 shares of the coffee company’s stock worth $5,033,907,000 after purchasing an additional 1,530,497 shares during the last quarter. Bank of America Corp DE lifted its stake in Starbucks by 9.0% during the first quarter. Bank of America Corp DE now owns 15,761,355 shares of the coffee company’s stock worth $1,412,060,000 after purchasing an additional 1,300,085 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Starbucks by 26.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,506,482 shares of the coffee company’s stock valued at $869,277,000 after purchasing an additional 1,767,530 shares in the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Starbucks in the 2nd quarter valued at $779,790,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SBUX shares. Morgan Stanley lowered Starbucks from an “overweight” rating to an “underweight” rating in a research note on Monday, August 3rd. Piper Sandler upped their price objective on Starbucks from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 30th. Robert W. Baird reduced their price objective on Starbucks from $124.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, October 2nd. Sanford C. Bernstein cut Starbucks from an “outperform” rating to a “market perform” rating in a research report on Monday, August 3rd. Finally, UBS Group boosted their target price on Starbucks from $105.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday, November 6th. Twenty-one investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.83.

Insider Transactions at Starbucks

In other Starbucks news, CEO Brady Brewer sold 2,229 shares of the company’s stock in a transaction that occurred on Thursday, November 5th. The shares were sold at an average price of $110.00, for a total value of $245,190.00. Following the completion of the transaction, the chief executive officer directly owned 68,691 shares in the company, valued at approximately $7,556,010. This represents a 3.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 6,687 shares of company stock valued at $694,874. Corporate insiders own 0.03% of the company’s stock.

Top Starbucks Stories

Investors following SBUX have been watching these stories:

• Positive Sentiment: Unusual options activity has been interpreted as bullish institutional sentiment, though options flows alone do not guarantee a lasting move in the shares. Starbucks’ unusual options activity points to bullish institutional sentiment
• Neutral Sentiment: Starbucks is granting stock awards and performance-based bonuses to many employees, aiming to align staff with sales and its “Back to Starbucks” effort. The incentives may help execution and retention, but also represent a cost. Starbucks is Putting More Money in Employees’ Pockets
• Neutral Sentiment: Starbucks was highlighted among companies making dividend payments, a potential draw for income-focused investors but not described as a new dividend increase. Starbucks Leads $718 Million Dividend as Four Others Pay Out Too

Starbucks Trading Down 0.8%

Shares of SBUX stock opened at $106.44 on Friday. The business’s 50-day moving average price is $99.35 and its 200-day moving average price is $100.35. Starbucks Corporation has a 12 month low of $81.97 and a 12 month high of $111.50. The firm has a market capitalization of $121.34 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 1.77 and a beta of 1.01.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Thursday, October 29th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.08. The company had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.22 billion. Starbucks had a negative return on equity of 38.61% and a net margin of 6.66%. The firm’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 earnings per share. On average, sell-side analysts predict that Starbucks Corporation will post 3.22 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from Starbucks’s previous quarterly dividend of $0.62. Starbucks’s payout ratio is presently 112.22%.

About Starbucks

Starbucks Corporation is a global coffee company that roasts, markets and sells coffee and other beverages, along with food and related merchandise. Its offerings include brewed coffee, espresso-based drinks, teas and packaged coffee products. The company serves customers through company-operated and licensed stores, as well as through retail and food-service partnerships. Its stores also sell items such as mugs and coffee-making equipment. Founded in Seattle in 1971, Starbucks operates in North America and international markets, including China.