Chartwell Investment Partners LLC Has $2.93 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Chartwell Investment Partners LLC trimmed its position in shares of Starbucks Co. (NASDAQ:SBUX) by 33.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,000 shares of the coffee company’s stock after selling 15,000 shares during the period. Chartwell Investment Partners LLC’s holdings in Starbucks were worth $2,925,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Quent Capital LLC boosted its position in shares of Starbucks by 9.6% in the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after acquiring an additional 385 shares during the period. Avantax Advisory Services Inc. increased its position in Starbucks by 10.4% during the 1st quarter. Avantax Advisory Services Inc. now owns 61,856 shares of the coffee company’s stock valued at $5,653,000 after purchasing an additional 5,805 shares during the period. TBH Global Asset Management LLC increased its position in Starbucks by 7.4% during the 1st quarter. TBH Global Asset Management LLC now owns 7,318 shares of the coffee company’s stock valued at $669,000 after purchasing an additional 506 shares during the period. Kingsview Wealth Management LLC increased its position in Starbucks by 10.8% during the 1st quarter. Kingsview Wealth Management LLC now owns 139,202 shares of the coffee company’s stock valued at $12,722,000 after purchasing an additional 13,540 shares during the period. Finally, HBK Sorce Advisory LLC grew its position in shares of Starbucks by 11.3% during the 1st quarter. HBK Sorce Advisory LLC now owns 9,507 shares of the coffee company’s stock worth $869,000 after buying an additional 967 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $98.80 on Wednesday. The business’s 50-day moving average is $96.19 and its 200 day moving average is $85.86. The firm has a market capitalization of $111.96 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.83 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the company earned $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 73.72%.

Insiders Place Their Bets

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SBUX shares. Barclays cut their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Citigroup raised their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

About Starbucks

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.