Chaney Capital Management Inc. Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Chaney Capital Management Inc. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 32.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,423 shares of the coffee company’s stock after purchasing an additional 2,578 shares during the period. Starbucks accounts for 0.6% of Chaney Capital Management Inc.’s investment portfolio, making the stock its 16th biggest position. Chaney Capital Management Inc.’s holdings in Starbucks were worth $1,016,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. 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 acquiring an additional 300 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Starbucks during the first quarter worth about $136,000. Great Valley Advisor Group Inc. lifted its stake in shares of Starbucks by 45.8% during the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after purchasing an additional 5,377 shares in the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Starbucks by 73.4% during the third quarter. China Universal Asset Management Co. Ltd. now owns 17,870 shares of the coffee company’s stock worth $1,742,000 after purchasing an additional 7,564 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in shares of Starbucks by 198.2% during the first quarter. Cetera Investment Advisers now owns 543,855 shares of the coffee company’s stock worth $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.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were 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 of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were 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 of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 approximately $7,057,327.62. This trade 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.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $98.65 on Monday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The stock has a fifty day moving average of $95.98 and a 200-day moving average of $85.46. The company has a market capitalization of $111.79 billion, a PE ratio of 29.87, a price-to-earnings-growth ratio of 2.66 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 3.42 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid 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 yield of 2.47%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is 73.72%.

Analysts Set New Price Targets

A number of research analysts have commented on SBUX shares. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Wednesday, October 23rd. Stifel Nicolaus boosted their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their price target for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Wedbush cut their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently 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.