Nicholson Wealth Management Group LLC Invests $755,000 in Starbucks Co. (NASDAQ:SBUX)

Nicholson Wealth Management Group LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, Holdings Channel.com reports. The firm bought 7,742 shares of the coffee company’s stock, valued at approximately $755,000.

Several other large investors have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $26,000. Stephens Consulting LLC lifted its stake in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Starbucks during the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC acquired a new position in Starbucks in the second quarter worth approximately $31,000. Institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SBUX. Jefferies Financial Group downgraded Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Stifel Nicolaus decreased their price target on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a research report on Wednesday. Bank of America cut their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Finally, TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $102.48.

Starbucks Stock Performance

Shares of SBUX opened at $97.15 on Friday. The firm has a market cap of $110.09 billion, a PE ratio of 27.21, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm’s 50 day moving average price is $95.38 and its 200 day moving average price is $84.89.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.93. The business had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm earned $1.00 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 63.87%.

Insider Activity

In related news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.