LVM Capital Management Ltd. MI Lowers Stock Holdings in Starbucks Corporation $SBUX

LVM Capital Management Ltd. MI reduced its holdings in Starbucks Corporation (NASDAQ:SBUX) by 13.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,557 shares of the coffee company’s stock after selling 6,328 shares during the quarter. LVM Capital Management Ltd. MI’s holdings in Starbucks were worth $3,516,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SBUX. Sky Investment Group LLC lifted its holdings in shares of Starbucks by 1.3% during the 3rd quarter. Sky Investment Group LLC now owns 21,244 shares of the coffee company’s stock worth $1,797,000 after acquiring an additional 275 shares during the period. Kennebec Savings Bank increased its position in Starbucks by 5.3% during the third quarter. Kennebec Savings Bank now owns 6,034 shares of the coffee company’s stock worth $510,000 after purchasing an additional 305 shares during the last quarter. Voya Investment Management LLC raised its stake in Starbucks by 2.0% during the third quarter. Voya Investment Management LLC now owns 1,074,739 shares of the coffee company’s stock worth $90,923,000 after purchasing an additional 21,157 shares during the period. Mitchell & Pahl Private Wealth LLC boosted its holdings in shares of Starbucks by 2.8% in the 3rd quarter. Mitchell & Pahl Private Wealth LLC now owns 19,939 shares of the coffee company’s stock valued at $1,687,000 after purchasing an additional 534 shares during the last quarter. Finally, Dynamic Advisor Solutions LLC boosted its holdings in shares of Starbucks by 18.8% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 8,065 shares of the coffee company’s stock valued at $682,000 after purchasing an additional 1,278 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX stock opened at $88.33 on Friday. The firm has a market cap of $100.44 billion, a P/E ratio of 53.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.98. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The stock has a 50-day simple moving average of $84.63 and a 200-day simple moving average of $87.72.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The company had revenue of $9.57 billion during the quarter, compared to analysts’ expectations of $9.41 billion. During the same quarter in the prior year, the company earned $0.80 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Corporation will post 2.99 EPS for the current year.

Starbucks Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SBUX. Barclays cut their target price on Starbucks from $115.00 to $95.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 22nd. Zacks Research upgraded Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. TD Cowen reiterated a “hold” rating and set a $84.00 target price on shares of Starbucks in a report on Monday, December 1st. BMO Capital Markets reissued an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein set a $100.00 price target on shares of Starbucks and gave the company an “outperform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average price of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. This represents a 28.26% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.09% of the company’s stock.

Starbucks Profile

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.