Studio Investment Management LLC Has $1.11 Million Position in Starbucks Co. (NASDAQ:SBUX)

Studio Investment Management LLC raised its stake in Starbucks Co. (NASDAQ:SBUX) by 13.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 11,418 shares of the coffee company’s stock after acquiring an additional 1,367 shares during the quarter. Studio Investment Management LLC’s holdings in Starbucks were worth $1,113,000 as of its most recent SEC filing.

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

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $99.97 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $104.68. The firm has a fifty day moving average price of $97.03 and a 200-day moving average price of $86.79. The stock has a market cap of $113.29 billion, a PE ratio of 30.20, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97.

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

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued 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 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, 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. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SBUX. Citigroup boosted their target price on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Monday, November 11th. Bank of America dropped their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus raised their price target on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

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.