Financial Management Network Inc. Invests $303,000 in Starbucks Co. (NASDAQ:SBUX)

Financial Management Network Inc. acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,138 shares of the coffee company’s stock, valued at approximately $303,000.

Other large investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the 2nd quarter valued at approximately $25,000. New Millennium Group LLC purchased a new position in shares of Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% in 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 during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks in the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks during the second quarter worth $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. UBS Group lifted their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday. Citigroup dropped their target price on Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday. 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. Wedbush reissued a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Finally, TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $102.48.

Starbucks Stock Performance

SBUX stock traded up $0.08 during midday trading on Friday, reaching $97.23. 1,081,115 shares of the company were exchanged, compared to its average volume of 11,324,655. The company has a market cap of $110.18 billion, a price-to-earnings ratio of 27.21, a price-to-earnings-growth ratio of 2.14 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 stock’s 50-day simple moving average is $95.38 and its 200 day simple moving average is $84.89.

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 analysts’ consensus estimates of $0.93. The firm had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.00 earnings per share. On average, research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.51%. Starbucks’s dividend payout ratio is 63.87%.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following 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 represents 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 corporate insiders.

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.