Essex Savings Bank Has $707,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Essex Savings Bank lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 1.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,250 shares of the coffee company’s stock after buying an additional 112 shares during the quarter. Essex Savings Bank’s holdings in Starbucks were worth $707,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC purchased a new position in Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC boosted its holdings in 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 acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in Starbucks during the 2nd quarter worth $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired 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 in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction 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 business’s stock in a transaction dated Friday, September 6th. The stock was bought at an average cost 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. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SBUX has been the topic of a number of recent analyst reports. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Citigroup boosted their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, October 23rd. Finally, Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Stock Up 1.5 %

Shares of Starbucks stock opened at $97.55 on Friday. The company has a market cap of $110.54 billion, a PE ratio of 29.47, a P/E/G ratio of 2.78 and a beta of 0.97. The business has a 50 day moving average of $96.07 and a 200 day moving average of $85.81. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.06 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. Starbucks’s dividend payout ratio is 68.88%.

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.