CFS Investment Advisory Services LLC Invests $258,000 in Starbucks Co. (NASDAQ:SBUX)

CFS Investment Advisory Services LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,644 shares of the coffee company’s stock, valued at approximately $258,000.

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

Starbucks Trading Up 2.4 %

Shares of NASDAQ:SBUX opened at $102.50 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.60. The company has a market capitalization of $116.21 billion, a PE ratio of 30.97, a PEG ratio of 2.90 and a beta of 0.97. The business has a 50 day moving average of $97.11 and a two-hundred day moving average of $87.00.

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

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given 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 dividend on an annualized basis and a dividend yield of 2.38%. Starbucks’s payout ratio is 73.72%.

Insider Activity

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SBUX. Stifel Nicolaus raised their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Bank of America cut their price target on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note 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. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Finally, UBS Group raised their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $102.81.

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.