Ingalls & Snyder LLC Has $761,000 Stake in Starbucks Co. (NASDAQ:SBUX)

Ingalls & Snyder LLC raised its position in shares of Starbucks Co. (NASDAQ:SBUX) by 19.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,804 shares of the coffee company’s stock after purchasing an additional 1,270 shares during the quarter. Ingalls & Snyder LLC’s holdings in Starbucks were worth $761,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in Starbucks in the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks during the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new position in Starbucks during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.1 %

NASDAQ:SBUX opened at $101.57 on Wednesday. The firm has a 50-day moving average price of $97.89 and a 200 day moving average price of $88.45. The firm has a market capitalization of $115.16 billion, a PE ratio of 30.69, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $103.32.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the company earned $1.06 EPS. Starbucks’s revenue was down 3.2% on a year-over-year basis. On average, research 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. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.40%. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Buying and Selling

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the sale, the chief financial officer now owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $91.50 per share, with a total value 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. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on SBUX. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. JPMorgan Chase & Co. boosted their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Morgan Stanley boosted their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, Redburn Atlantic reaffirmed a “sell” rating and set a $77.00 price objective (down previously 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 issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

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.