Atlanta Consulting Group Advisors LLC bought a new position in Starbucks Co. (NASDAQ:SBUX - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,355 shares of the coffee company's stock, valued at approximately $620,000.
Several other large investors have also made changes to their positions in the company. Quent Capital LLC raised its position in Starbucks by 9.6% in the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company's stock valued at $401,000 after purchasing an additional 385 shares during the period. Allstate Corp raised its position in Starbucks by 43.0% in the first quarter. Allstate Corp now owns 3,468 shares of the coffee company's stock valued at $317,000 after purchasing an additional 1,042 shares during the period. Jacobi Capital Management LLC raised its position in Starbucks by 2.5% in the first quarter. Jacobi Capital Management LLC now owns 16,136 shares of the coffee company's stock valued at $1,475,000 after purchasing an additional 401 shares during the period. Catalytic Wealth RIA LLC raised its position in Starbucks by 6.0% in the first quarter. Catalytic Wealth RIA LLC now owns 5,710 shares of the coffee company's stock valued at $522,000 after purchasing an additional 323 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in Starbucks by 4.6% in the first quarter. Hillsdale Investment Management Inc. now owns 3,419 shares of the coffee company's stock valued at $312,000 after purchasing an additional 150 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value 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 trade represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company's stock.
Several research firms have commented on SBUX. Robert W. Baird raised Starbucks from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Royal Bank of Canada assumed coverage on Starbucks in a research note on Friday. They set an "outperform" rating and a $115.00 target price for the company. BTIG Research raised 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. Wedbush lowered their target price on Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a "hold" rating to a "buy" rating and raised their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of "Moderate Buy" and an average price target of $102.81.
View Our Latest Stock Analysis on SBUX
SBUX opened at $98.42 on Friday. The business's 50 day moving average is $96.75 and its 200-day moving average is $86.18. The stock has a market cap of $111.53 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.
Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts' consensus estimates of $0.80. The company had revenue of $9.07 billion for the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 earnings per share. As a group, analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks's previous quarterly dividend of $0.57. Starbucks's payout ratio is 68.88%.
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.
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