DAVENPORT & Co LLC grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 27.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 802,900 shares of the coffee company’s stock after purchasing an additional 174,594 shares during the quarter. DAVENPORT & Co LLC owned 0.07% of Starbucks worth $68,985,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. HighMark Wealth Management LLC raised its position in Starbucks by 351.9% in the second quarter. HighMark Wealth Management LLC now owns 366 shares of the coffee company’s stock worth $27,000 after acquiring an additional 285 shares in the last quarter. AlphaMark Advisors LLC raised its holdings in shares of Starbucks by 175.6% in the 2nd quarter. AlphaMark Advisors LLC now owns 372 shares of the coffee company’s stock worth $27,000 after purchasing an additional 237 shares in the last quarter. Centerpoint Advisors LLC raised its holdings in shares of Starbucks by 4,644.4% in the 2nd quarter. Centerpoint Advisors LLC now owns 427 shares of the coffee company’s stock worth $31,000 after purchasing an additional 418 shares in the last quarter. Shine Investment Advisory Services Inc. lifted its stake in Starbucks by 63.5% during the second quarter. Shine Investment Advisory Services Inc. now owns 453 shares of the coffee company’s stock valued at $33,000 after purchasing an additional 176 shares during the last quarter. Finally, Atticus Wealth Management LLC bought a new stake in Starbucks during the second quarter worth approximately $37,000. 68.36% of the stock is currently owned by institutional investors.

SBUX stock traded down $0.31 during midday trading on Friday, hitting $88.52. The stock had a trading volume of 4,722,554 shares, compared to its average volume of 10,443,412. Starbucks Co. has a 52 week low of $50.02 and a 52 week high of $94.13. The stock has a 50-day simple moving average of $86.35 and a 200 day simple moving average of $78.11. The firm has a market capitalization of $103.48 billion, a price-to-earnings ratio of 79.75, a P/E/G ratio of 6.38 and a beta of 0.81.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Tuesday, July 28th. The coffee company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.61) by $0.15. The company had revenue of $4.22 billion for the quarter, compared to the consensus estimate of $4.14 billion. Starbucks had a net margin of 5.56% and a negative return on equity of 22.26%. The firm’s revenue for the quarter was down 38.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. Equities analysts forecast that Starbucks Co. will post 0.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Investors of record on Thursday, November 12th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.03%. This is a positive change from Starbucks’s previous quarterly dividend of $0.41. The ex-dividend date is Tuesday, November 10th. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.

In other Starbucks news, Director Myron E. Ullman III sold 4,252 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $84.77, for a total transaction of $360,442.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin R. Johnson sold 107,762 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $90.08, for a total value of $9,707,200.96. The disclosure for this sale can be found here. Insiders have sold a total of 153,764 shares of company stock valued at $13,404,656 over the last three months. Company insiders own 0.41% of the company’s stock.

SBUX has been the subject of a number of recent research reports. ValuEngine downgraded Starbucks from a “buy” rating to a “hold” rating in a research report on Wednesday, September 9th. MKM Partners upped their target price on Starbucks from $74.00 to $79.00 in a report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on Starbucks from $76.00 to $80.00 and gave the stock a “neutral” rating in a research note on Monday, September 21st. Stephens upped their price objective on shares of Starbucks from $72.00 to $78.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company raised their target price on shares of Starbucks from $93.00 to $98.00 and gave the stock an “overweight” rating in a report on Friday. Sixteen equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $86.73.

Starbucks Company Profile

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

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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