Sittner & Nelson LLC Purchases 930 Shares of Starbucks Co. (NASDAQ:SBUX)

Sittner & Nelson LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,494 shares of the coffee company’s stock after buying an additional 930 shares during the period. Starbucks makes up approximately 2.1% of Sittner & Nelson LLC’s portfolio, making the stock its 6th largest position. Sittner & Nelson LLC’s holdings in Starbucks were worth $4,630,000 as of its most recent SEC filing.

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

Starbucks Trading Up 0.0 %

Shares of NASDAQ:SBUX opened at $96.12 on Friday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The stock has a market capitalization of $108.92 billion, a PE ratio of 29.04, a PEG ratio of 2.81 and a beta of 0.97. The firm has a 50 day moving average of $95.99 and a 200-day moving average of $85.67.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the firm posted $1.06 EPS. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, research analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 73.72%.

Wall Street Analyst Weigh In

SBUX has been the topic of several research reports. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Wednesday, October 23rd. BMO Capital Markets raised their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Finally, Citigroup lifted their price objective on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Insider Activity at Starbucks

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

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.