Arcadia Investment Management Corp MI reduced its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Get Rating) by 7.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 123,918 shares of the coffee company's stock after selling 10,594 shares during the period. Starbucks accounts for about 2.1% of Arcadia Investment Management Corp MI's portfolio, making the stock its 13th largest position. Arcadia Investment Management Corp MI's holdings in Starbucks were worth $9,466,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in SBUX. Delos Wealth Advisors LLC bought a new position in Starbucks during the 4th quarter valued at about $28,000. Claro Advisors LLC raised its stake in shares of Starbucks by 5.3% in the fourth quarter. Claro Advisors LLC now owns 11,604 shares of the coffee company's stock worth $1,357,000 after acquiring an additional 579 shares during the last quarter. Cinctive Capital Management LP bought a new position in shares of Starbucks in the fourth quarter worth about $1,080,000. Cetera Investment Advisers raised its stake in shares of Starbucks by 6.3% in the fourth quarter. Cetera Investment Advisers now owns 141,782 shares of the coffee company's stock worth $16,584,000 after acquiring an additional 8,451 shares during the last quarter. Finally, Capital Planning Advisors LLC raised its stake in shares of Starbucks by 2.0% in the fourth quarter. Capital Planning Advisors LLC now owns 19,597 shares of the coffee company's stock worth $2,292,000 after acquiring an additional 379 shares during the last quarter. 67.97% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Fubon Bank raised shares of Starbucks from a "neutral" rating to a "buy" rating and set a $103.00 target price for the company in a research note on Wednesday, September 14th. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $92.00 to $100.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 14th. Cowen lifted their price target on shares of Starbucks from $94.00 to $104.00 in a research report on Thursday, August 18th. Piper Sandler lifted their price target on shares of Starbucks from $84.00 to $92.00 and gave the stock a "neutral" rating in a research report on Friday, September 16th. Finally, Wedbush lifted their price target on shares of Starbucks from $86.00 to $92.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 14th. Fifteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $103.44.

Insider Buying and Selling

Starbucks Stock Down 2.7 %

Shares of SBUX stock opened at $84.26 on Friday. The firm has a fifty day moving average of $86.39 and a 200-day moving average of $81.53. Starbucks Co. has a 12-month low of $68.39 and a 12-month high of $117.80. The company has a market capitalization of $96.68 billion, a price-to-earnings ratio of 23.74, a P/E/G ratio of 2.33 and a beta of 0.94.

Starbucks (NASDAQ:SBUX – Get Rating) last announced its earnings results on Tuesday, August 2nd. The coffee company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.77 by $0.07. Starbucks had a net margin of 13.03% and a negative return on equity of 47.28%. The business had revenue of $8.15 billion during the quarter, compared to analysts' expectations of $8.22 billion. During the same quarter in the prior year, the company posted $1.01 earnings per share. On average, equities analysts expect that Starbucks Co. will post 2.88 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be issued a dividend of $0.53 per share. This is a boost from Starbucks's previous quarterly dividend of $0.49. The ex-dividend date is Wednesday, November 9th. This represents a $2.12 annualized dividend and a yield of 2.52%. Starbucks's dividend payout ratio is presently 55.21%.

About Starbucks

(Get Rating)

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

Featured Stories

• Get a free copy of the StockNews.com research report on Starbucks (SBUX)
• EV Battery Maker Freyr Set For Major Global Expansion
• MarketBeat: Week in Review 9/26 – 9/30
• This Is A Memorable Time To Buy Into Micron Technology
• How Does Keurig Dr Pepper Compare To Larger Rivals Coke & Pepsi?
• Let Paychex Stock Work Hard For You

Want to see what other hedge funds are holding SBUX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Starbucks Co. (NASDAQ:SBUX – Get Rating).

Receive News & Ratings for Starbucks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Starbucks and related companies with MarketBeat.com's FREE daily email newsletter.