Roanoke Asset Management Corp NY Acquires New Shares in Starbucks Co. (NASDAQ:SBUX)

Roanoke Asset Management Corp NY acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 2,109 shares of the coffee company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC raised its holdings in Starbucks by 498.2% in 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 period. Hobbs Group Advisors LLC bought a new position in Starbucks in the 2nd quarter worth $27,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $98.87 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company’s 50 day simple moving average is $95.98 and its 200-day simple moving average is $85.47. The stock has a market capitalization of $112.04 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 2.63 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 earnings per share (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 45.15%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the firm earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, analysts anticipate that Starbucks Co. will post 3.45 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Barclays cut their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday. Morgan Stanley upped their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Finally, BTIG Research upped their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The shares were 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 in the company, 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 document filed with the SEC, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased 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 of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

About Starbucks

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.