JB Capital LLC Boosts Stake in Starbucks Co. (NASDAQ:SBUX)

JB Capital LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.0% in the third quarter, HoldingsChannel.com reports. The fund owned 36,160 shares of the coffee company’s stock after acquiring an additional 1,039 shares during the quarter. JB Capital LLC’s holdings in Starbucks were worth $3,525,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SBUX. Vanguard Group Inc. increased its stake in shares of Starbucks by 0.4% in the first quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock worth $9,907,020,000 after buying an additional 470,498 shares during the period. Legal & General Group Plc grew its holdings in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after buying an additional 221,718 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of Starbucks during the first quarter valued at $415,167,000. Van ECK Associates Corp boosted its stake in shares of Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its position in shares of Starbucks by 14.6% during the 1st quarter. Sustainable Growth Advisers LP now owns 4,275,461 shares of the coffee company’s stock valued at $390,734,000 after purchasing an additional 544,644 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were 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 represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the 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 completion of the sale, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $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 is available through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.3 %

SBUX traded up $0.27 during midday trading on Thursday, hitting $96.35. The company’s stock had a trading volume of 627,148 shares, compared to its average volume of 11,208,495. The firm has a market cap of $109.18 billion, a P/E ratio of 29.03, a PEG ratio of 2.81 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a 50-day moving average price of $95.99 and a two-hundred day moving average price of $85.67.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the business posted $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities analysts expect that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The company also recently declared 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 yield of 2.53%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 73.72%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SBUX. Jefferies Financial Group cut shares of 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 note on Tuesday, September 24th. Citigroup boosted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. UBS Group lifted their price target on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, Bank of America lowered their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.32.

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.