TrinityPoint Wealth LLC Grows Position in Starbucks Co. (NASDAQ:SBUX)

TrinityPoint Wealth LLC grew its stake in Starbucks Co. (NASDAQ:SBUX) by 8.4% during the 3rd quarter, Holdings Channel reports. The fund owned 3,332 shares of the coffee company’s stock after acquiring an additional 258 shares during the period. TrinityPoint Wealth LLC’s holdings in Starbucks were worth $325,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Riverview Trust Co raised its position in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares during the last quarter. Essex Savings Bank raised its holdings in Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after acquiring an additional 112 shares during the last quarter. DT Investment Partners LLC lifted its stake in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the period. Childress Capital Advisors LLC boosted its holdings in shares of Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after purchasing an additional 126 shares during the last quarter. Finally, Keystone Wealth Services LLC grew its position in shares of Starbucks by 1.3% in the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total transaction of $143,849.64. Following the sale, the chief financial officer now directly owns 65,648 shares in the company, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 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, for a total transaction of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SBUX shares. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Citigroup raised their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. UBS Group boosted their target price on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Finally, Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Trading Up 2.0 %

Shares of Starbucks stock opened at $100.40 on Tuesday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $105.47. The firm has a fifty day simple moving average of $96.91 and a 200-day simple moving average of $86.44. The stock has a market capitalization of $113.77 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 2.85 and a beta of 0.97.

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. The company had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.06 EPS. As a group, research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.43%. Starbucks’s payout ratio is currently 73.72%.

About Starbucks

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.