Phillips Wealth Planners LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Phillips Wealth Planners LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,417 shares of the coffee company’s stock, valued at approximately $326,000.

Other large investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC bought a new position in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC increased its stake in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks in the second quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new position in Starbucks in the 2nd quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Wednesday, October 23rd. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Barclays lowered their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday. Citigroup boosted their price target on shares of Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Stock Performance

Starbucks stock opened at $98.87 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock has a market cap of $112.04 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97. The stock’s 50 day simple moving average is $95.98 and its two-hundred day simple moving average is $85.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 earnings per share. On average, analysts predict that Starbucks Co. will post 3.42 earnings per share 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 issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the 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 sale, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was 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.