Private Advisor Group LLC Increases Stake in Starbucks Co. (NASDAQ:SBUX)

Private Advisor Group LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 1.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 118,946 shares of the coffee company’s stock after purchasing an additional 1,418 shares during the quarter. Private Advisor Group LLC’s holdings in Starbucks were worth $11,596,000 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. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC purchased a new stake in Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC increased its stake in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks in the 2nd quarter worth about $27,000. Finally, Olistico Wealth LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SBUX. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price on the stock. in a report on Wednesday, August 21st. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Finally, Stifel Nicolaus decreased their target price on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the 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 purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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 directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired 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 directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of SBUX opened at $97.15 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The business’s fifty day moving average price is $95.38 and its 200 day moving average price is $84.89. The stock has a market capitalization of $110.09 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.00 EPS. As a group, research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is presently 63.87%.

Starbucks Profile

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.