Valley Wealth Managers Inc. Acquires 1,192 Shares of Starbucks Co. (NASDAQ:SBUX)

Valley Wealth Managers Inc. lifted its position in Starbucks Co. (NASDAQ:SBUX) by 2.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,667 shares of the coffee company’s stock after buying an additional 1,192 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Starbucks were worth $5,037,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.7 %

SBUX traded up $0.67 on Friday, reaching $99.90. 691,390 shares of the company traded hands, compared to its average volume of 11,114,516. The company has a market cap of $113.21 billion, a P/E ratio of 30.16, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97. The firm has a fifty day simple moving average of $96.60 and a two-hundred day simple moving average of $86.12. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The company’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.44%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is presently 73.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays reduced their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective on the stock. in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. increased their price target on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

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.