Mattson Financial Services LLC Sells 6,469 Shares of Starbucks Corporation $SBUX

Mattson Financial Services LLC trimmed its stake in Starbucks Corporation (NASDAQ:SBUX) by 19.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,928 shares of the coffee company’s stock after selling 6,469 shares during the period. Mattson Financial Services LLC’s holdings in Starbucks were worth $2,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SBUX. Game Plan Financial Advisors LLC acquired a new stake in shares of Starbucks in the second quarter valued at about $25,000. Transce3nd LLC lifted its stake in shares of Starbucks by 270.3% in the second quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock worth $25,000 after acquiring an additional 200 shares during the period. Chelsea Counsel Co. bought a new stake in Starbucks in the second quarter valued at approximately $26,000. CBIZ Investment Advisory Services LLC increased its position in Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares during the period. Finally, MTM Investment Management LLC acquired a new stake in Starbucks during the 2nd quarter valued at approximately $28,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Up 0.6%

Starbucks stock opened at $85.08 on Monday. The company has a market capitalization of $96.74 billion, a PE ratio of 51.88, a PEG ratio of 1.77 and a beta of 0.98. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The firm’s fifty day moving average is $84.83 and its 200 day moving average is $87.51.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS 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 analyst estimates of $9.41 billion. During the same quarter in the previous year, the business posted $0.80 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be given a $0.62 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, February 13th. Starbucks’s payout ratio is presently 151.22%.

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 acquired at an average cost of $85.00 per share, with a total value of $994,500.00. Following the purchase, the director owned 53,096 shares in the company, valued at $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Royal Bank Of Canada set a $100.00 price target on shares of Starbucks and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Dbs Bank cut shares of Starbucks from a “hold” rating to a “strong sell” rating in a research report on Friday, November 7th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the company an “overweight” rating in a report on Thursday, October 16th. Piper Sandler cut their price target on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Finally, Sanford C. Bernstein set a $100.00 price target on Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $101.44.

Starbucks Company 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.