Brooklyn Investment Group Raises Stock Position in Starbucks Co. (NASDAQ:SBUX)

Brooklyn Investment Group grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 7.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,349 shares of the coffee company’s stock after acquiring an additional 373 shares during the period. Brooklyn Investment Group’s holdings in Starbucks were worth $521,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Dakota Wealth Management boosted its stake in Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. boosted its position in shares of Starbucks by 31.2% during the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the last quarter. Maia Wealth LLC grew its stake in Starbucks by 69.1% during the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares in the last quarter. Aljian Capital Management LLC increased its holdings in Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Swiss National Bank lifted its stake in Starbucks by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after purchasing an additional 9,900 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SBUX. Royal Bank of Canada began coverage on Starbucks in a research report on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective for the company. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. BMO Capital Markets upped their price objective on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price target for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Price Performance

Shares of SBUX opened at $102.00 on Tuesday. The firm has a market capitalization of $115.65 billion, a price-to-earnings ratio of 30.77, a PEG ratio of 3.00 and a beta of 0.97. The company has a 50-day moving average of $97.22 and a 200 day moving average of $87.38. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32.

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, 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 during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The company’s revenue was down 3.2% on a year-over-year basis. On average, equities analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is an increase 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 2.39%. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

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.