Strategy Asset Managers LLC Has $571,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Strategy Asset Managers LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 18.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,856 shares of the coffee company’s stock after buying an additional 927 shares during the quarter. Strategy Asset Managers LLC’s holdings in Starbucks were worth $571,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Legal & General Group Plc boosted its holdings in shares of Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after buying an additional 221,718 shares during the period. Van ECK Associates Corp lifted its position in Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after acquiring an additional 2,324,847 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after acquiring an additional 9,900 shares during the period. Marshall Wace LLP grew its position in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Starbucks by 3.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 3,255,967 shares of the coffee company’s stock worth $317,424,000 after purchasing an additional 122,886 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Price Performance

NASDAQ:SBUX opened at $98.26 on Thursday. Starbucks Co. has a one year low of $71.55 and a one year high of $104.68. The company has a market cap of $111.35 billion, a PE ratio of 29.69, a PEG ratio of 2.85 and a beta of 0.97. The firm has a 50-day moving average of $97.01 and a 200-day moving average of $86.70.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, equities research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.48%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is currently 73.72%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank of Canada assumed coverage on Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective on the stock. Stifel Nicolaus increased their target price on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. UBS Group boosted their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. BMO Capital Markets increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Finally, Citigroup boosted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three investment 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.81.

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.