Stockman Wealth Management Inc. Buys 7,318 Shares of Starbucks Co. (NASDAQ:SBUX)

Stockman Wealth Management Inc. boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.0% during the third quarter, Holdings Channel.com reports. The firm owned 111,890 shares of the coffee company’s stock after acquiring an additional 7,318 shares during the period. Starbucks accounts for about 1.7% of Stockman Wealth Management Inc.’s portfolio, making the stock its 21st largest position. Stockman Wealth Management Inc.’s holdings in Starbucks were worth $10,908,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks in the second quarter valued at $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks in the second quarter valued at $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks in the second quarter valued at $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on SBUX shares. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a research note on Wednesday, October 23rd. Citigroup increased their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. UBS Group increased their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated 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 transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks Stock Up 1.5 %

Shares of NASDAQ:SBUX traded up $1.43 during trading on Friday, hitting $97.55. 6,118,742 shares of the stock traded hands, compared to its average volume of 7,867,492. The company has a fifty day moving average price of $96.07 and a two-hundred day moving average price of $85.79. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The company has a market cap of $110.54 billion, a price-to-earnings ratio of 29.47, a P/E/G ratio of 2.83 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. 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 company earned $1.06 EPS. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. On average, equities research analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

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.