Nicolet Advisory Services LLC Takes $270,000 Position in Starbucks Co. (NASDAQ:SBUX)

Nicolet Advisory Services LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,828 shares of the coffee company’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SBUX. Quent Capital LLC increased its holdings in shares of Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after acquiring an additional 385 shares during the last quarter. Waverly Advisors LLC raised its position in shares of Starbucks by 128.8% in the first quarter. Waverly Advisors LLC now owns 11,994 shares of the coffee company’s stock valued at $1,096,000 after purchasing an additional 6,753 shares during the period. Industrial Alliance Investment Management Inc. lifted its stake in shares of Starbucks by 4.4% in the first quarter. Industrial Alliance Investment Management Inc. now owns 3,395 shares of the coffee company’s stock worth $310,000 after buying an additional 143 shares during the last quarter. Fairbanks Capital Management Inc. bought a new stake in shares of Starbucks during the 1st quarter worth $767,000. Finally, Sweeney & Michel LLC acquired a new position in Starbucks in the 1st quarter valued at $621,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 2.4 %

Shares of Starbucks stock opened at $102.50 on Monday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.60. The firm’s 50-day moving average price is $97.11 and its two-hundred day moving average price is $87.19. The stock has a market capitalization of $116.21 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 3.00 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 for the quarter, meeting analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the firm posted $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts predict that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

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

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction 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 acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on 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 sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on SBUX. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Bank of America decreased their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a report on Wednesday, August 21st. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $102.81.

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.