Ascent Group LLC Buys 847 Shares of Starbucks Co. (NASDAQ:SBUX)

Ascent Group LLC increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,527 shares of the coffee company’s stock after buying an additional 847 shares during the period. Ascent Group LLC’s holdings in Starbucks were worth $1,221,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the second quarter worth about $25,000. New Millennium Group LLC bought a new position in Starbucks in the second quarter valued at $26,000. Stephens Consulting LLC raised its holdings in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the second quarter valued at $27,000. Finally, MFA Wealth Advisors LLC acquired a new position in Starbucks during the second quarter worth approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $101.57 on Wednesday. The firm has a market capitalization of $115.16 billion, a PE ratio of 30.69, a P/E/G ratio of 2.97 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32. The company’s 50-day moving average is $97.89 and its 200 day moving average is $88.45.

Starbucks (NASDAQ:SBUX) last posted its 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 company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. As a group, analysts expect that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.61 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.40%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 73.72%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SBUX. BTIG Research boosted their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Stifel Nicolaus increased their price objective on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Wedbush cut their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Finally, Redburn Atlantic restated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction 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 sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by insiders.

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.