Darwin Wealth Management LLC Buys New Stake in Starbucks Co. (NASDAQ:SBUX)

Darwin Wealth Management LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, Holdings Channel reports. The firm purchased 1,900 shares of the coffee company’s stock, valued at approximately $185,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SBUX. Quent Capital LLC lifted its holdings in shares of Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after acquiring an additional 385 shares during the period. Capital Group Private Client Services Inc. raised its stake in shares of Starbucks by 1.3% in the first quarter. Capital Group Private Client Services Inc. now owns 63,277 shares of the coffee company’s stock worth $5,783,000 after acquiring an additional 797 shares during the last quarter. Capital International Inc. CA raised its stake in shares of Starbucks by 56.2% in the first quarter. Capital International Inc. CA now owns 43,245 shares of the coffee company’s stock worth $3,952,000 after acquiring an additional 15,557 shares during the last quarter. Capital World Investors acquired a new stake in shares of Starbucks during the 1st quarter worth approximately $257,721,000. Finally, Guardian Capital LP grew its position in shares of Starbucks by 5.0% during the 1st quarter. Guardian Capital LP now owns 20,044 shares of the coffee company’s stock worth $1,832,000 after buying an additional 954 shares during the period. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX opened at $98.26 on Thursday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $104.68. The firm has a market cap of $111.35 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The firm’s 50-day simple moving average is $97.01 and its 200 day simple moving average is $86.70.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business earned $1.06 EPS. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, equities analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is presently 73.72%.

Analysts Set New Price Targets

SBUX has been the subject of a number of analyst reports. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a report on Monday, November 11th. Redburn Atlantic restated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Royal Bank of Canada assumed coverage on shares of Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.81.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % 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 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.