Starbucks Co. (NASDAQ:SBUX) Holdings Lifted by Mendel Capital Management LLC

Mendel Capital Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 6.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,620 shares of the coffee company’s stock after buying an additional 326 shares during the period. Mendel Capital Management LLC’s holdings in Starbucks were worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have 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 worth approximately $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the 2nd quarter valued at $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks in the second quarter worth $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Starbucks during the second quarter worth $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SBUX has been the topic of several research reports. Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Royal Bank of Canada initiated coverage on Starbucks in a report on Friday. They issued an “outperform” rating and a $115.00 price objective on the stock. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Stifel Nicolaus increased their price target on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective 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. Three research 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’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Price Performance

Shares of NASDAQ:SBUX opened at $98.42 on Monday. The stock has a market capitalization of $111.53 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The business’s fifty day moving average price is $96.75 and its two-hundred day moving average price is $86.26. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company posted $1.06 EPS. Research analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

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

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $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 this hyperlink. Corporate insiders own 1.98% of the company’s stock.

Starbucks Company 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.