Bellecapital International Ltd. Decreases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Bellecapital International Ltd. cut its stake in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 1.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,804 shares of the coffee company’s stock after selling 349 shares during the period. Bellecapital International Ltd.’s holdings in Starbucks were worth $2,511,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Kesler Norman & Wride LLC increased its position in Starbucks by 1.1% during the third quarter. Kesler Norman & Wride LLC now owns 10,444 shares of the coffee company’s stock valued at $880,000 after acquiring an additional 115 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in Starbucks by 1.0% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 11,963 shares of the coffee company’s stock valued at $1,007,000 after acquiring an additional 116 shares during the last quarter. Hancock Whitney Corp increased its position in Starbucks by 1.2% during the second quarter. Hancock Whitney Corp now owns 9,649 shares of the coffee company’s stock valued at $737,000 after acquiring an additional 117 shares during the last quarter. Fulton Bank N.A. increased its position in Starbucks by 0.7% during the third quarter. Fulton Bank N.A. now owns 17,352 shares of the coffee company’s stock valued at $1,462,000 after acquiring an additional 118 shares during the last quarter. Finally, Howland Capital Management LLC increased its position in Starbucks by 1.6% during the third quarter. Howland Capital Management LLC now owns 7,370 shares of the coffee company’s stock valued at $621,000 after acquiring an additional 118 shares during the last quarter. 69.16% of the stock is owned by institutional investors.

Starbucks Stock Down 0.4 %

Starbucks stock traded down $0.40 during midday trading on Wednesday, reaching $106.24. 445,634 shares of the stock traded hands, compared to its average volume of 6,093,240. The stock’s fifty day moving average is $101.74 and its 200-day moving average is $91.93. Starbucks Co. has a 12 month low of $68.39 and a 12 month high of $107.60. The stock has a market cap of $121.94 billion, a P/E ratio of 37.82, a PEG ratio of 2.24 and a beta of 0.89.

Starbucks (NASDAQ:SBUX – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The coffee company reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Starbucks had a negative return on equity of 39.85% and a net margin of 10.18%. The business had revenue of $8.41 billion for the quarter, compared to the consensus estimate of $8.43 billion. On average, equities analysts predict that Starbucks Co. will post 3.42 EPS for the current fiscal year.

Starbucks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Shareholders of record on Friday, February 10th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, February 9th. This represents a $2.12 dividend on an annualized basis and a yield of 2.00%. Starbucks’s dividend payout ratio (DPR) is presently 75.18%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 3,960 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $106.50, for a total transaction of $421,740.00. Following the sale, the chief financial officer now directly owns 57,962 shares in the company, valued at $6,172,953. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Clara Shih sold 7,000 shares of the stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $103.29, for a total value of $723,030.00. Following the sale, the director now directly owns 13,661 shares in the company, valued at $1,411,044.69. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Rachel Ruggeri sold 3,960 shares of the stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $106.50, for a total value of $421,740.00. Following the completion of the sale, the chief financial officer now owns 57,962 shares in the company, valued at $6,172,953. The disclosure for this sale can be found here. Insiders have sold a total of 26,280 shares of company stock worth $2,663,595 over the last ninety days. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research reports. Guggenheim upped their price objective on Starbucks from $92.00 to $103.00 in a research report on Friday, January 6th. Bank of America boosted their price target on Starbucks from $109.00 to $125.00 in a report on Tuesday, January 3rd. Wells Fargo & Company started coverage on Starbucks in a report on Monday. They set an “overweight” rating and a $120.00 price target for the company. Wedbush boosted their price target on Starbucks from $92.00 to $96.00 and gave the company a “neutral” rating in a report on Friday, November 4th. Finally, Credit Suisse Group boosted their price target on Starbucks from $103.00 to $105.00 and gave the company an “outperform” rating in a report on Friday, November 4th. Thirteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $105.69.

Starbucks Company Profile

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Starbucks Corp. engages in the production, marketing, and retailing of specialty coffee. It operates through the following segments: North America, International, Channel Development, and Corporate and Other. The North America segment focuses on the United States and Canada. The International segment is involved in China, Japan, Asia Pacific, Europe, Middle East, Africa, Latin America, and Caribbean.