2,212 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Camden National Bank

Camden National Bank acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 2,212 shares of the coffee company’s stock, valued at approximately $216,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the second quarter valued at approximately $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC grew its position in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks during the second quarter valued at $27,000. Finally, Olistico Wealth LLC purchased a new position in shares of Starbucks during the second quarter valued at $31,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Stock Up 2.4 %

Shares of NASDAQ SBUX opened at $102.50 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.60. The business’s 50 day moving average price is $97.11 and its 200 day moving average price is $87.10. The firm has a market cap of $116.21 billion, a P/E ratio of 30.97, a P/E/G ratio of 2.90 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm earned $1.06 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

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

Insider Transactions at Starbucks

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were 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 owns 80,124 shares in the company, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’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 transaction, the director now directly owns 36,242 shares in the company, 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.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Barclays dropped their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Wedbush cut their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. lifted their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $102.81.

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.