Larson Financial Group LLC Acquires 988 Shares of Starbucks Co. (NASDAQ:SBUX)

Larson Financial Group LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,279 shares of the coffee company’s stock after buying an additional 988 shares during the period. Larson Financial Group LLC’s holdings in Starbucks were worth $2,172,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Riverview Trust Co boosted its stake in Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares during the period. Essex Savings Bank lifted its stake in Starbucks by 1.6% during the third quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock worth $707,000 after purchasing an additional 112 shares during the last quarter. DT Investment Partners LLC lifted its stake in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. Childress Capital Advisors LLC lifted its stake in Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after purchasing an additional 126 shares during the last quarter. Finally, Keystone Wealth Services LLC lifted its stake in Starbucks by 1.3% during the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SBUX shares. Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Stifel Nicolaus lifted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, BTIG Research lifted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 1,452 shares of the company’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 value of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents 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 insiders.

Starbucks Stock Up 2.4 %

Shares of SBUX opened at $102.50 on Monday. The business’s 50 day moving average price is $97.11 and its 200-day moving average price is $87.19. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.60. The stock has a market cap of $116.21 billion, a P/E ratio of 30.97, a P/E/G ratio of 3.00 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the firm posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 73.72%.

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.