Ground Swell Capital LLC Takes Position in Starbucks Co. (NASDAQ:SBUX)

Ground Swell Capital LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,773 shares of the coffee company’s stock, valued at approximately $1,343,000. Starbucks accounts for 1.2% of Ground Swell Capital LLC’s holdings, making the stock its 10th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Dakota Wealth Management boosted its holdings in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares in the last quarter. LRI Investments LLC acquired a new position in Starbucks in the first quarter valued at approximately $136,000. Great Valley Advisor Group Inc. boosted its holdings in Starbucks by 45.8% in the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after purchasing an additional 5,377 shares in the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in Starbucks by 73.4% in the third quarter. China Universal Asset Management Co. Ltd. now owns 17,870 shares of the coffee company’s stock valued at $1,742,000 after purchasing an additional 7,564 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Starbucks by 198.2% in the first quarter. Cetera Investment Advisers now owns 543,855 shares of the coffee company’s stock valued at $49,703,000 after purchasing an additional 361,489 shares in the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

Starbucks stock opened at $98.87 on Monday. The stock’s 50-day moving average is $95.98 and its 200-day moving average is $85.46. The company has a market cap of $112.04 billion, a price-to-earnings 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.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for 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 company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $1.06 EPS. Research analysts anticipate that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.47%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SBUX shares. BMO Capital Markets increased their price objective on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. BTIG Research increased their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Wedbush cut their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, Bank of America lowered their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

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.