Axim Planning & Wealth Sells 174 Shares of Starbucks Co. (NASDAQ:SBUX)

Axim Planning & Wealth cut its holdings in Starbucks Co. (NASDAQ:SBUX) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,336 shares of the coffee company’s stock after selling 174 shares during the quarter. Starbucks makes up about 0.4% of Axim Planning & Wealth’s investment portfolio, making the stock its 17th largest position. Axim Planning & Wealth’s holdings in Starbucks were worth $325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the second quarter valued at approximately $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC lifted its stake in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Starbucks in the second quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new position in Starbucks in the second quarter worth about $31,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Starbucks stock opened at $99.80 on Thursday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $113.09 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97. The business has a 50 day simple moving average of $96.30 and a 200-day simple moving average of $85.93.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the firm posted $1.06 EPS. Starbucks’s revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.44%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 68.88%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Bank of America cut their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Morgan Stanley lifted their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Finally, Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and lowered their price target for the stock from $80.00 to $76.00 in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $102.31.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Profile

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink beverages; and various food products, such as pastries, breakfast sandwiches, and lunch items.