Providence Capital Advisors LLC Acquires 11,553 Shares of Starbucks Co. (NASDAQ:SBUX)

Providence Capital Advisors LLC raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 18.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 74,483 shares of the coffee company’s stock after acquiring an additional 11,553 shares during the quarter. Starbucks comprises 1.4% of Providence Capital Advisors LLC’s portfolio, making the stock its 20th biggest holding. Providence Capital Advisors LLC’s holdings in Starbucks were worth $7,261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter worth approximately $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the second quarter worth $26,000. Stephens Consulting LLC boosted its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in Starbucks in the 2nd quarter valued at $27,000. Finally, MFA Wealth Advisors LLC bought a new position in Starbucks in the 2nd quarter worth $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SBUX shares. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. BMO Capital Markets lifted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Stifel Nicolaus raised their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Wedbush cut their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.8 %

Shares of Starbucks stock opened at $101.51 on Thursday. The stock has a market capitalization of $115.09 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 2.98 and a beta of 0.97. The firm’s 50-day moving average price is $97.41 and its two-hundred day moving average price is $87.65. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the company earned $1.06 EPS. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, equities research analysts predict that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.40%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

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.