Starbucks Co. (NASDAQ:SBUX) Stake Lifted by William Allan Corp

William Allan Corp grew its position in Starbucks Co. (NASDAQ:SBUX) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 62,474 shares of the coffee company’s stock after buying an additional 512 shares during the quarter. Starbucks accounts for 3.7% of William Allan Corp’s holdings, making the stock its 6th largest holding. William Allan Corp’s holdings in Starbucks were worth $6,091,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks during the second quarter worth $25,000. New Millennium Group LLC purchased a new position in Starbucks in the second quarter valued at about $26,000. Stephens Consulting LLC raised its holdings in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks during the second quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks in the 2nd quarter valued at about $31,000. Institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Trading Up 0.8 %

Shares of SBUX opened at $101.51 on Friday. The firm has a market cap of $115.09 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.97 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The stock has a 50 day moving average of $97.50 and a 200-day moving average of $87.74.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the company earned $1.06 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.40%. Starbucks’s dividend payout ratio (DPR) is currently 73.72%.

Analyst Ratings Changes

A number of equities research analysts recently commented on SBUX shares. TD Cowen reissued a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Morgan Stanley upped their target price on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

About Starbucks

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.