Mattern Capital Management LLC Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Mattern Capital Management LLC lifted its position in Starbucks Co. (NASDAQ:SBUX) by 1.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 105,847 shares of the coffee company’s stock after purchasing an additional 1,492 shares during the quarter. Starbucks comprises approximately 1.3% of Mattern Capital Management LLC’s portfolio, making the stock its 27th largest holding. Mattern Capital Management LLC’s holdings in Starbucks were worth $10,319,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after purchasing an additional 470,498 shares during the period. Legal & General Group Plc increased its holdings in shares of Starbucks by 2.6% in the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares during the period. Flossbach Von Storch AG increased its holdings in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after purchasing an additional 2,897,282 shares during the period. Nordea Investment Management AB increased its holdings in shares of Starbucks by 5.2% in the first quarter. Nordea Investment Management AB now owns 5,412,603 shares of the coffee company’s stock worth $495,145,000 after purchasing an additional 266,570 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks in the first quarter worth $415,167,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SBUX shares. Barclays upped their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Citigroup reduced their target price on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Wednesday. BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Price Performance

Shares of SBUX opened at $97.31 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a 50-day simple moving average of $95.48 and a two-hundred day simple moving average of $85.03. The firm has a market capitalization of $110.22 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

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

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is currently 67.22%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Company 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.