3,417 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Phillips Wealth Planners LLC

Phillips Wealth Planners LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 3,417 shares of the coffee company’s stock, valued at approximately $326,000.

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks in the 2nd quarter worth approximately $25,000. New Millennium Group LLC purchased a new stake in Starbucks during the second quarter valued at approximately $26,000. Stephens Consulting LLC raised its position 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 acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks during the 2nd quarter worth $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks during the 2nd quarter valued at $31,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. BTIG Research raised their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Bank of America dropped their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. increased their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Trading Up 1.2 %

Starbucks stock opened at $98.87 on Friday. The firm has a market capitalization of $112.04 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a 50-day moving average price of $95.98 and a 200-day moving average price of $85.47.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate 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 the consensus estimate of $9.60 billion. During the same period in the prior year, the business posted $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts predict that Starbucks Co. will post 3.42 earnings per share for the current fiscal 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 issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. 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 2.47%. Starbucks’s dividend payout ratio is presently 68.88%.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased 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 owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % 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. In other news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 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 purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

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.