Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Circle Wealth Management LLC

Circle Wealth Management LLC raised its position in Starbucks Co. (NASDAQ:SBUX) by 0.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 314,096 shares of the coffee company’s stock after purchasing an additional 1,711 shares during the period. Starbucks comprises approximately 0.7% of Circle Wealth Management LLC’s portfolio, making the stock its 16th biggest holding. Circle Wealth Management LLC’s holdings in Starbucks were worth $30,621,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SBUX. Riverview Trust Co boosted 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 valued at $312,000 after buying an additional 105 shares in the last quarter. Essex Savings Bank lifted its holdings in Starbucks by 1.6% in the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after acquiring an additional 112 shares during the last quarter. DT Investment Partners LLC boosted its position in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. Childress Capital Advisors LLC grew its stake in shares of Starbucks by 4.8% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after purchasing an additional 126 shares during the last quarter. Finally, Keystone Wealth Services LLC grew its stake in shares of Starbucks by 1.3% in the 3rd quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated 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 completion of the purchase, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Stifel Nicolaus upped their target price on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Stock Performance

Shares of SBUX opened at $102.46 on Friday. The firm has a market cap of $116.17 billion, a PE ratio of 30.95, a PEG ratio of 2.97 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The firm’s 50 day moving average price is $97.63 and its 200 day moving average price is $87.93.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. On average, sell-side analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was 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 currently 73.72%.

Starbucks Company 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.