Legacy Capital Wealth Partners LLC Purchases Shares of 2,741 Starbucks Co. (NASDAQ:SBUX)

Legacy Capital Wealth Partners LLC acquired a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 2,741 shares of the coffee company’s stock, valued at approximately $267,000.

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

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was bought 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 of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % 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.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SBUX shares. Oppenheimer restated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. BMO Capital Markets raised their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Two 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. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

Starbucks Stock Up 2.8 %

NASDAQ:SBUX opened at $100.31 on Tuesday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm’s fifty day simple moving average is $96.07 and its 200-day simple moving average is $85.77. The stock has a market cap of $113.67 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. Equities analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current 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 issued a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.43%. Starbucks’s dividend payout ratio is 73.72%.

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.