Rosenberg Matthew Hamilton Grows Position in Starbucks Co. (NASDAQ:SBUX)

Rosenberg Matthew Hamilton grew its position in shares of Starbucks Co. (NASDAQ:SBUX) by 5.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,783 shares of the coffee company’s stock after acquiring an additional 149 shares during the period. Rosenberg Matthew Hamilton’s holdings in Starbucks were worth $271,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of SBUX. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC bought a new position in Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC lifted its stake in shares of 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 stake in shares of Starbucks in the 2nd quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks during the second quarter valued at approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of several recent research reports. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday, October 23rd. Stifel Nicolaus decreased their target price on Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday, October 23rd. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. 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 report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $102.48.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Down 1.3 %

NASDAQ SBUX traded down $1.26 on Thursday, reaching $96.06. The company had a trading volume of 4,075,352 shares, compared to its average volume of 11,282,018. The stock has a market capitalization of $108.86 billion, a P/E ratio of 27.26, a P/E/G ratio of 2.59 and a beta of 0.97. The company’s fifty day moving average is $95.77 and its 200 day moving average is $85.28. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

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 the consensus estimate of $0.80. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 3.34 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.54%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 68.35%.

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.