North Ridge Wealth Advisors Inc. Makes New $217,000 Investment in Starbucks Co. (NASDAQ:SBUX)

North Ridge Wealth Advisors Inc. bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to its most recent filing with the SEC. The firm bought 2,229 shares of the coffee company’s stock, valued at approximately $217,000.

Other institutional investors have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC bought a new stake in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the 2nd quarter worth about $27,000. Finally, Olistico Wealth LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’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 transaction, the chief executive officer now owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Starbucks Stock Up 0.2 %

SBUX opened at $97.31 on Friday. The firm has a 50-day moving average price of $95.48 and a 200-day moving average price of $85.05. The company has a market capitalization of $110.22 billion, a price-to-earnings ratio of 26.81, 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.

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

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.51%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 67.22%.

Analyst Ratings Changes

A number of research firms recently weighed in on SBUX. Morgan Stanley boosted their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Barclays lifted their price target on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the company from $85.00 to $118.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective 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. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

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.