Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Grandfield & Dodd LLC

Grandfield & Dodd LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 57.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 45,501 shares of the coffee company’s stock after buying an additional 16,683 shares during the quarter. Grandfield & Dodd LLC’s holdings in Starbucks were worth $4,436,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of SBUX. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Starbucks in the 3rd quarter valued at approximately $7,675,000. NS Partners Ltd raised its holdings in shares of Starbucks by 1.8% in the 3rd quarter. NS Partners Ltd now owns 217,785 shares of the coffee company’s stock worth $21,232,000 after purchasing an additional 3,824 shares in the last quarter. Strategy Asset Managers LLC lifted its holdings in shares of Starbucks by 18.8% during the third quarter. Strategy Asset Managers LLC now owns 5,856 shares of the coffee company’s stock valued at $571,000 after purchasing an additional 927 shares during the last quarter. Segall Bryant & Hamill LLC purchased a new stake in shares of Starbucks in the 3rd quarter valued at approximately $8,832,000. Finally, Prospera Private Wealth LLC acquired a new stake in Starbucks during the 3rd quarter worth about $307,000. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of Starbucks 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 transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $98.35 on Wednesday. The company has a 50-day moving average of $97.01 and a 200-day moving average of $86.62. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $105.47. The company has a market capitalization of $111.45 billion, a price-to-earnings ratio of 29.71, a PEG ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting 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 during the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter last year, the company earned $1.06 earnings per share. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. Sell-side analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.48%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is currently 73.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SBUX shares. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Robert W. Baird raised Starbucks from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, Wedbush decreased their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a report 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.