Starbucks Co. (NASDAQ:SBUX) Shares Bought by Grandfield & Dodd LLC

Grandfield & Dodd LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 57.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,501 shares of the coffee company’s stock after acquiring an additional 16,683 shares during the period. Grandfield & Dodd LLC’s holdings in Starbucks were worth $4,436,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Starbucks during the 3rd quarter worth $7,675,000. NS Partners Ltd grew its position in shares of Starbucks by 1.8% during the third quarter. NS Partners Ltd now owns 217,785 shares of the coffee company’s stock worth $21,232,000 after buying an additional 3,824 shares in the last quarter. Strategy Asset Managers LLC grew its position in shares of Starbucks by 18.8% during the third quarter. Strategy Asset Managers LLC now owns 5,856 shares of the coffee company’s stock worth $571,000 after buying an additional 927 shares in the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Starbucks during the third quarter worth approximately $8,832,000. Finally, Prospera Private Wealth LLC acquired a new stake in Starbucks in the third quarter valued at approximately $307,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Shares of SBUX opened at $98.35 on Wednesday. The stock has a market capitalization of $111.45 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $105.47. The company’s fifty day moving average is $97.01 and its two-hundred day moving average is $86.62.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company posted $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts predict 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. Investors of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date is 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 2.48%. Starbucks’s payout ratio is 73.72%.

Analyst Ratings Changes

SBUX has been the topic of a number of analyst reports. Bank of America reduced their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, Stifel Nicolaus increased their price target on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

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.