Okabena Investment Services Inc. Makes New $1.88 Million Investment in Starbucks Co. (NASDAQ:SBUX)

Okabena Investment Services Inc. purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 19,273 shares of the coffee company’s stock, valued at approximately $1,879,000.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. boosted their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Barclays reduced their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Bank of America lowered their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Finally, Stifel Nicolaus raised their price objective on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $102.81.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price 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 approximately $3,316,143. This trade represents 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.

Starbucks Stock Up 2.4 %

Shares of SBUX stock opened at $102.50 on Friday. The stock has a fifty day moving average of $97.11 and a 200 day moving average of $87.10. The firm has a market capitalization of $116.21 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 2.90 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.60.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting 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 quarter 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. Equities research analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced 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. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.