Schrum Private Wealth Management LLC Purchases 2,869 Shares of Starbucks Co. (NASDAQ:SBUX)

Schrum Private Wealth Management LLC boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 100.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,738 shares of the coffee company’s stock after buying an additional 2,869 shares during the period. Schrum Private Wealth Management LLC’s holdings in Starbucks were worth $559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SBUX. Oppenheimer Asset Management Inc. increased its holdings in shares of Starbucks by 3.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 220,529 shares of the coffee company’s stock worth $21,499,000 after buying an additional 8,151 shares during the last quarter. GHE LLC grew its position in Starbucks by 0.5% in the third quarter. GHE LLC now owns 44,795 shares of the coffee company’s stock worth $4,344,000 after acquiring an additional 233 shares in the last quarter. Rossmore Private Capital increased its stake in Starbucks by 0.6% in the third quarter. Rossmore Private Capital now owns 22,254 shares of the coffee company’s stock valued at $2,155,000 after acquiring an additional 142 shares during the last quarter. Hamel Associates Inc. raised its position in Starbucks by 3.9% during the third quarter. Hamel Associates Inc. now owns 24,028 shares of the coffee company’s stock valued at $2,342,000 after purchasing an additional 897 shares in the last quarter. Finally, Souders Financial Advisors bought a new stake in Starbucks during the third quarter worth about $244,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ:SBUX traded up $0.23 during trading on Wednesday, reaching $99.03. 1,571,150 shares of the stock traded hands, compared to its average volume of 8,349,834. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a market cap of $112.22 billion, a P/E ratio of 29.92, a price-to-earnings-growth ratio of 2.86 and a beta of 0.97. The stock has a 50-day moving average of $96.30 and a two-hundred day moving average of $85.93.

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

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.46%. Starbucks’s payout ratio is currently 68.88%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Bank of America lowered their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. 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 report on Thursday, October 31st. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Finally, BTIG Research raised their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Starbucks currently has an average rating of “Moderate Buy” and a consensus target price of $102.31.

Insider Activity at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks 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 approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase 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.