Nabity Jensen Investment Management Inc Acquires New Position in Starbucks Co. (NASDAQ:SBUX)

Nabity Jensen Investment Management Inc bought a new position in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 7,791 shares of the coffee company’s stock, valued at approximately $760,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Continuum Advisory LLC increased its holdings in shares of Starbucks by 18.6% in the 3rd quarter. Continuum Advisory LLC now owns 8,680 shares of the coffee company’s stock worth $861,000 after acquiring an additional 1,364 shares during the period. Gordian Capital Singapore Pte Ltd grew its position in Starbucks by 10.0% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 12,735 shares of the coffee company’s stock worth $1,242,000 after purchasing an additional 1,155 shares during the last quarter. PYA Waltman Capital LLC increased its stake in shares of Starbucks by 6.9% in the third quarter. PYA Waltman Capital LLC now owns 9,966 shares of the coffee company’s stock valued at $972,000 after purchasing an additional 647 shares during the period. Drucker Wealth 3.0 LLC raised its holdings in shares of Starbucks by 7.2% during the third quarter. Drucker Wealth 3.0 LLC now owns 47,911 shares of the coffee company’s stock valued at $4,671,000 after buying an additional 3,219 shares during the last quarter. Finally, Hamilton Capital LLC acquired a new position in shares of Starbucks during the third quarter worth approximately $247,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Starbucks

In related news, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Up 0.9 %

Shares of NASDAQ SBUX opened at $100.11 on Monday. The firm has a market capitalization of $113.50 billion, a PE ratio of 30.24, a PEG ratio of 2.94 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The business has a 50-day moving average price of $98.09 and a two-hundred day moving average price of $88.90.

Starbucks (NASDAQ:SBUX) last posted 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 business 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 firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. Research analysts anticipate that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently commented on SBUX. JPMorgan Chase & Co. raised their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley lifted their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Finally, BMO Capital Markets increased their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Three 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. According to MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $103.77.

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.