BBVA USA Bancshares Inc. Lowers Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

BBVA USA Bancshares Inc. decreased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.3% during the third quarter, Holdings Channel reports. The institutional investor owned 92,003 shares of the coffee company’s stock after selling 4,109 shares during the period. BBVA USA Bancshares Inc.’s holdings in Starbucks were worth $7,700,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. HighMark Wealth Management LLC lifted its stake in shares of Starbucks by 351.9% during the 2nd quarter. HighMark Wealth Management LLC now owns 366 shares of the coffee company’s stock valued at $27,000 after buying an additional 285 shares in the last quarter. AlphaMark Advisors LLC lifted its stake in shares of Starbucks by 175.6% during the 2nd quarter. AlphaMark Advisors LLC now owns 372 shares of the coffee company’s stock valued at $27,000 after buying an additional 237 shares in the last quarter. Centerpoint Advisors LLC lifted its stake in shares of Starbucks by 4,644.4% during the 2nd quarter. Centerpoint Advisors LLC now owns 427 shares of the coffee company’s stock valued at $31,000 after buying an additional 418 shares in the last quarter. Price Wealth LLC lifted its stake in shares of Starbucks by 237.4% during the 3rd quarter. Price Wealth LLC now owns 361 shares of the coffee company’s stock valued at $31,000 after buying an additional 254 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. lifted its stake in shares of Starbucks by 63.5% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 453 shares of the coffee company’s stock valued at $33,000 after buying an additional 176 shares in the last quarter. Institutional investors own 68.36% of the company’s stock.

Shares of NASDAQ SBUX opened at $87.17 on Thursday. The company’s fifty day moving average price is $87.21 and its 200 day moving average price is $79.48. Starbucks Co. has a 1 year low of $50.02 and a 1 year high of $94.13. The company has a market capitalization of $101.90 billion, a PE ratio of 78.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Tuesday, July 28th. The coffee company reported ($0.46) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.15. The firm 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 quarterly revenue was down 38.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.78 earnings per share. As a group, equities analysts predict that Starbucks Co. will post 0.99 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Thursday, November 12th will be issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 2.06%. This is an increase from Starbucks’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Tuesday, November 10th. Starbucks’s dividend payout ratio (DPR) is presently 57.95%.

A number of analysts have recently weighed in on the stock. Telsey Advisory Group boosted their target price on shares of Starbucks from $80.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, September 30th. UBS Group upped their price target on shares of Starbucks from $77.00 to $81.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Stifel Nicolaus raised shares of Starbucks from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Monday, August 24th. Royal Bank of Canada upped their price target on shares of Starbucks from $89.00 to $97.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Starbucks from $80.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 20th. Fifteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Starbucks presently has an average rating of “Buy” and a consensus target price of $87.54.

In other Starbucks news, Director Clara Shih sold 37,498 shares of the stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $79.13, for a total transaction of $2,967,216.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Myron E. Ullman III sold 4,252 shares of the 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 153,764 shares of company stock worth $13,404,656. Insiders own 0.41% of the company’s stock.

About Starbucks

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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