Aljian Capital Management LLC Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Aljian Capital Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 48.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,422 shares of the coffee company’s stock after purchasing an additional 9,936 shares during the quarter. Starbucks comprises 0.7% of Aljian Capital Management LLC’s portfolio, making the stock its 21st biggest position. Aljian Capital Management LLC’s holdings in Starbucks were worth $2,966,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Barclays lowered their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. Finally, BMO Capital Markets lifted 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. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $102.81.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 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 purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Down 0.8 %

NASDAQ:SBUX opened at $98.42 on Monday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market cap of $111.53 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The stock has a fifty day moving average price of $96.75 and a 200 day moving average price of $86.26.

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 the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the business posted $1.06 EPS. The business’s quarterly revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The firm 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 $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 68.88%.

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.