6,355 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,355 shares of the coffee company’s stock, valued at approximately $620,000.

Several other large investors have also made changes to their positions in the company. Quent Capital LLC raised its position in Starbucks by 9.6% in the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after purchasing an additional 385 shares during the period. Allstate Corp raised its position in Starbucks by 43.0% in the first quarter. Allstate Corp now owns 3,468 shares of the coffee company’s stock valued at $317,000 after purchasing an additional 1,042 shares during the period. Jacobi Capital Management LLC raised its position in Starbucks by 2.5% in the first quarter. Jacobi Capital Management LLC now owns 16,136 shares of the coffee company’s stock valued at $1,475,000 after purchasing an additional 401 shares during the period. Catalytic Wealth RIA LLC raised its position in Starbucks by 6.0% in the first quarter. Catalytic Wealth RIA LLC now owns 5,710 shares of the coffee company’s stock valued at $522,000 after purchasing an additional 323 shares during the period. Finally, Hillsdale Investment Management Inc. raised its position in Starbucks by 4.6% in the first quarter. Hillsdale Investment Management Inc. now owns 3,419 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 150 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SBUX. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Royal Bank of Canada assumed coverage on Starbucks in a research note on Friday. They set an “outperform” rating and a $115.00 target price for the company. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Wedbush lowered their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Trading Down 0.2 %

SBUX opened at $98.42 on Friday. The business’s 50 day moving average is $96.75 and its 200-day moving average is $86.18. The stock has a market cap 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. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly 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 company 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 business’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 earnings per share. As a group, analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 68.88%.

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.