Studio Investment Management LLC Has $1.11 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Studio Investment Management LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 13.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,418 shares of the coffee company’s stock after purchasing an additional 1,367 shares during the period. Studio Investment Management LLC’s holdings in Starbucks were worth $1,113,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in SBUX. CFS Investment Advisory Services LLC bought a new stake in shares of Starbucks in the 3rd quarter valued at about $258,000. AlphaCore Capital LLC grew its holdings in Starbucks by 12.7% during the third quarter. AlphaCore Capital LLC now owns 18,399 shares of the coffee company’s stock valued at $1,794,000 after purchasing an additional 2,069 shares during the period. 49 Wealth Management LLC increased its stake in Starbucks by 12.6% in the third quarter. 49 Wealth Management LLC now owns 5,529 shares of the coffee company’s stock valued at $539,000 after purchasing an additional 619 shares in the last quarter. Eagle Asset Management Inc. bought a new position in shares of Starbucks during the third quarter worth $48,143,000. Finally, Pacer Advisors Inc. boosted its position in shares of Starbucks by 4.0% during the third quarter. Pacer Advisors Inc. now owns 139,527 shares of the coffee company’s stock worth $13,602,000 after purchasing an additional 5,397 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SBUX has been the topic of a number of research analyst reports. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a research report on Wednesday, August 21st. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. TD Cowen reiterated a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Finally, Barclays lowered their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Stock Up 1.7 %

Shares of Starbucks stock opened at $99.97 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $104.68. The company has a market capitalization of $113.29 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 2.85 and a beta of 0.97. The firm’s 50-day moving average price is $97.03 and its two-hundred day moving average price is $86.79.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business posted $1.06 EPS. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, sell-side analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm 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 $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.44%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

About Starbucks

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.