Starbucks Co. (NASDAQ:SBUX) Shares Purchased by LPL Financial LLC

LPL Financial LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 4.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,948,686 shares of the coffee company’s stock after acquiring an additional 85,255 shares during the quarter. LPL Financial LLC owned 0.17% of Starbucks worth $189,977,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Riverview Trust Co grew its stake in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after acquiring an additional 105 shares during the last quarter. Essex Savings Bank grew its position in shares of Starbucks by 1.6% during the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after acquiring an additional 112 shares during the period. DT Investment Partners LLC raised its stake in shares of Starbucks by 39.4% in the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after buying an additional 121 shares during the period. Childress Capital Advisors LLC raised its stake in Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after acquiring an additional 126 shares during the period. Finally, Keystone Wealth Services LLC boosted its holdings in Starbucks by 1.3% in the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The stock was 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 directly owns 65,648 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were bought 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 of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on SBUX shares. Barclays reduced their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research report on Wednesday, August 21st. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Finally, UBS Group lifted 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. Three 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. According to data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Stock Up 1.7 %

Shares of NASDAQ SBUX opened at $99.97 on Friday. The business has a 50-day moving average price of $97.03 and a 200 day moving average price of $86.79. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $104.68. The stock has a market cap of $113.29 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data 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 analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’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 earned $1.06 EPS. Sell-side analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.44%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.