Mutual Advisors LLC Buys 1,515 Shares of Starbucks Co. (NASDAQ:SBUX)

Mutual Advisors LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,996 shares of the coffee company’s stock after acquiring an additional 1,515 shares during the quarter. Mutual Advisors LLC’s holdings in Starbucks were worth $4,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Starbucks Trading Down 0.1 %

Shares of SBUX opened at $97.32 on Thursday. The firm has a market cap of $110.28 billion, a PE ratio of 27.26, a P/E/G ratio of 2.59 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a fifty day simple moving average of $95.77 and a two-hundred day simple moving average of $85.28.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.24). Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts forecast that Starbucks Co. will post 3.34 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is presently 68.35%.

Insider Transactions at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the business’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 completion of the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % 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, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, 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 company insiders.

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. Sanford C. Bernstein raised shares of 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. Bank of America reduced their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and reduced their price target for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks 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.