Mutual Advisors LLC Has $4.57 Million Stock Position in Starbucks Co. (NASDAQ:SBUX)

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

A number of other hedge funds also recently modified their holdings of the business. Riverview Trust Co raised its stake in Starbucks by 3.4% during the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock worth $312,000 after buying an additional 105 shares during the last quarter. DT Investment Partners LLC increased its stake in shares of Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after acquiring an additional 121 shares in the last quarter. Childress Capital Advisors LLC lifted its position in shares of Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after acquiring an additional 126 shares during the period. Keystone Wealth Services LLC raised its holdings in shares of Starbucks by 1.3% during the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after purchasing an additional 130 shares during the period. Finally, Chicago Capital LLC boosted its position in shares of Starbucks by 0.6% during the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock worth $2,060,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of research reports. Citigroup lowered their target price on Starbucks from $99.00 to $96.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 23rd. Stifel Nicolaus cut their price target on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Barclays increased their price objective on Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Robert W. Baird upgraded 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 report on Tuesday, August 13th. Finally, BTIG Research raised their price objective on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Price Performance

Shares of SBUX stock opened at $97.32 on Thursday. The stock has a market capitalization of $110.28 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.59 and a beta of 0.97. The company’s fifty day simple moving average is $95.77 and its two-hundred day simple moving average is $85.28. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data 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 negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the company posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts anticipate that Starbucks Co. will post 3.34 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is a boost 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 is currently 68.35%.

Insider Buying and Selling at Starbucks

In related news, 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 owns 62,502 shares in the company, 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 SEC, which is accessible through the SEC website. In related news, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.