Neo Ivy Capital Management Invests $1.11 Million in Starbucks Co. (NASDAQ:SBUX)

Neo Ivy Capital Management acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, HoldingsChannel reports. The fund acquired 11,408 shares of the coffee company’s stock, valued at approximately $1,112,000.

Several other institutional investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the second quarter valued at about $25,000. New Millennium Group LLC acquired a new position in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks in the 2nd quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SBUX. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Morgan Stanley increased their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Stock Up 0.3 %

Shares of SBUX opened at $98.42 on Thursday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The company’s fifty day moving average is $98.14 and its two-hundred day moving average is $89.19. The firm has a market cap of $111.59 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.94 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its 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 firm 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 firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, equities research analysts anticipate that Starbucks Co. will post 3.11 earnings per share for the current year.

Starbucks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s payout ratio is 73.72%.

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.