Starbucks Co. (NASDAQ:SBUX) Shares Purchased by IHT Wealth Management LLC

IHT Wealth Management LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 49.4% in the 3rd quarter, Holdings Channel reports. The firm owned 25,459 shares of the coffee company’s stock after acquiring an additional 8,421 shares during the quarter. IHT Wealth Management LLC’s holdings in Starbucks were worth $2,480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BDF Gestion acquired a new position in Starbucks during the second quarter worth about $2,855,000. Two Star Manager LLC acquired a new position in shares of Starbucks during the 2nd quarter worth approximately $4,524,000. City Holding Co. grew its position in shares of Starbucks by 36.5% in the second quarter. City Holding Co. now owns 23,398 shares of the coffee company’s stock valued at $1,821,000 after purchasing an additional 6,257 shares in the last quarter. Capital Investment Advisors LLC increased its holdings in shares of Starbucks by 21.9% in the second quarter. Capital Investment Advisors LLC now owns 17,002 shares of the coffee company’s stock valued at $1,324,000 after purchasing an additional 3,050 shares during the last quarter. Finally, Southland Equity Partners LLC boosted its position in shares of Starbucks by 33.8% during the 2nd quarter. Southland Equity Partners LLC now owns 4,723 shares of the coffee company’s stock valued at $368,000 after acquiring an additional 1,193 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. increased their price target 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. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company increased their price target on Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Wedbush reduced their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

Starbucks Stock Performance

Shares of SBUX opened at $100.70 on Thursday. The company has a market capitalization of $114.17 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The firm has a 50-day simple moving average of $97.99 and a 200-day simple moving average of $88.54.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.61 dividend. The ex-dividend date was Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.42%. Starbucks’s payout ratio is 73.72%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

About Starbucks

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.