Wilmington Savings Fund Society FSB Buys 16,385 Shares of Starbucks Co. (NASDAQ:SBUX)

Wilmington Savings Fund Society FSB boosted its position in Starbucks Co. (NASDAQ:SBUX) by 218.1% in the third quarter, HoldingsChannel.com reports. The firm owned 23,899 shares of the coffee company’s stock after acquiring an additional 16,385 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Starbucks were worth $2,330,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Riverview Trust Co grew its holdings in Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares during the last quarter. Essex Savings Bank lifted its position in shares of Starbucks by 1.6% in the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after acquiring an additional 112 shares in the last quarter. Virtue Capital Management LLC boosted its stake in shares of Starbucks by 1.7% during the third quarter. Virtue Capital Management LLC now owns 6,909 shares of the coffee company’s stock valued at $674,000 after acquiring an additional 115 shares during the last quarter. DT Investment Partners LLC raised its stake in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares during the last quarter. Finally, Childress Capital Advisors LLC lifted its holdings in Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after purchasing an additional 126 shares in the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of SBUX stock opened at $97.42 on Friday. The company’s fifty day moving average price is $98.24 and its two-hundred day moving average price is $89.44. The firm has a market capitalization of $110.45 billion, a P/E ratio of 29.43, a P/E/G ratio of 2.89 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the business posted $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, February 14th. Starbucks’s payout ratio is currently 73.72%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of analyst reports. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Royal Bank of Canada began coverage on Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target for the company. UBS Group raised their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. BTIG Research upped 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. Finally, Wedbush decreased their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

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.