United Asset Strategies Inc. Increases Position in Starbucks Co. (NASDAQ:SBUX)

United Asset Strategies Inc. increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 121,706 shares of the coffee company’s stock after acquiring an additional 4,891 shares during the period. Starbucks makes up about 1.1% of United Asset Strategies Inc.’s investment portfolio, making the stock its 29th largest position. United Asset Strategies Inc.’s holdings in Starbucks were worth $11,865,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the 2nd quarter worth $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC boosted its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC purchased a new position in shares of Starbucks during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Citigroup decreased their price target on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 23rd. Stifel Nicolaus lowered their price target on shares of Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Barclays raised their price objective on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Finally, Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Stock Performance

NASDAQ SBUX traded down $1.17 during mid-day trading on Thursday, reaching $96.15. 4,277,246 shares of the stock were exchanged, compared to its average volume of 11,282,974. The business’s fifty day simple moving average is $95.77 and its 200 day simple moving average is $85.28. The stock has a market capitalization of $108.96 billion, a PE ratio of 27.26, a PEG ratio of 2.59 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 49.38% and a net margin of 11.16%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts anticipate that Starbucks Co. will post 3.34 EPS for the current year.

Starbucks Increases Dividend

The business also recently disclosed 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 is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is presently 68.35%.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly 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 filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.