Circle Wealth Management LLC Buys 1,711 Shares of Starbucks Co. (NASDAQ:SBUX)

Circle Wealth Management LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 314,096 shares of the coffee company’s stock after acquiring an additional 1,711 shares during the period. Starbucks comprises about 0.7% of Circle Wealth Management LLC’s holdings, making the stock its 16th biggest position. Circle Wealth Management LLC’s holdings in Starbucks were worth $30,621,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Dakota Wealth Management raised its stake in shares of Starbucks by 0.5% in the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. increased its stake in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares during the period. Maia Wealth LLC raised its position in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares in the last quarter. Aljian Capital Management LLC lifted its stake in Starbucks by 48.5% during the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock worth $2,966,000 after purchasing an additional 9,936 shares during the period. Finally, Swiss National Bank boosted its holdings in Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after purchasing an additional 9,900 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on SBUX shares. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. BMO Capital Markets boosted their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Royal Bank of Canada began coverage on shares of Starbucks in a research report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price target on the stock. Finally, Wedbush decreased their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Trading Up 0.9 %

Shares of SBUX opened at $102.46 on Friday. The stock has a market cap of $116.17 billion, a P/E ratio of 30.95, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The stock’s 50-day moving average price is $97.63 and its two-hundred day moving average price is $87.93.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.06 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. 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 business’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 in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

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.