49 Wealth Management LLC Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

49 Wealth Management LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 12.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,529 shares of the coffee company’s stock after acquiring an additional 619 shares during the period. 49 Wealth Management LLC’s holdings in Starbucks were worth $539,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the second quarter worth about $25,000. New Millennium Group LLC purchased a new stake in Starbucks in the second quarter worth $26,000. Stephens Consulting LLC lifted its stake in 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 acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in Starbucks during 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. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SBUX shares. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Citigroup boosted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays decreased their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, BMO Capital Markets boosted 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. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Stock Performance

NASDAQ:SBUX opened at $99.97 on Friday. The stock has a 50-day simple moving average of $97.03 and a two-hundred day simple moving average of $86.79. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $104.68. The firm has a market capitalization of $113.29 billion, a PE ratio of 30.20, a P/E/G ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed 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. This is a positive change 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 2.44%. Starbucks’s dividend payout ratio is 73.72%.

Insider Activity at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased 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 in the company, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

About Starbucks

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.