Leelyn Smith LLC Purchases 1,912 Shares of Starbucks Co. (NASDAQ:SBUX)

Leelyn Smith LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,295 shares of the coffee company’s stock after purchasing an additional 1,912 shares during the period. Leelyn Smith LLC’s holdings in Starbucks were worth $4,221,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Camden National Bank acquired a new stake in shares of Starbucks in the third quarter valued at approximately $216,000. Meridian Wealth Management LLC acquired a new stake in Starbucks during the third quarter worth approximately $1,095,000. Nwam LLC bought a new position in Starbucks during the 3rd quarter worth $6,226,000. Studio Investment Management LLC raised its holdings in Starbucks by 13.6% in the 3rd quarter. Studio Investment Management LLC now owns 11,418 shares of the coffee company’s stock valued at $1,113,000 after acquiring an additional 1,367 shares in the last quarter. Finally, CFS Investment Advisory Services LLC bought a new stake in shares of Starbucks during the 3rd quarter valued at $258,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Starbucks stock opened at $102.50 on Friday. The stock has a market cap of $116.21 billion, a P/E ratio of 30.97, a PEG ratio of 2.90 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.60. The firm’s fifty day moving average price is $97.11 and its 200-day moving average price is $87.00.

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

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.38%. Starbucks’s dividend payout ratio is presently 73.72%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SBUX. BMO Capital Markets upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Royal Bank of Canada assumed coverage on shares of Starbucks in a research note on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective on the stock. JPMorgan Chase & Co. raised their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Finally, BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated 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 $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

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.