2,226 Shares in Starbucks Co. (NASDAQ:SBUX) Acquired by ETF Store Inc.

ETF Store Inc. bought a new stake in Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,226 shares of the coffee company’s stock, valued at approximately $217,000.

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 Starbucks in the second quarter valued at approximately $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the second quarter valued at approximately $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 valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks in the second quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available through this link. 1.98% of the stock is owned by corporate insiders.

Starbucks Price Performance

Shares of Starbucks stock opened at $98.42 on Monday. The firm has a market capitalization 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. The company’s fifty day moving average price is $96.75 and its two-hundred day moving average price is $86.26. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

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

Starbucks Increases Dividend

The company also recently announced 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 represents a $2.44 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 68.88%.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Wedbush dropped their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Finally, BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

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.