Atlanta Consulting Group Advisors LLC Makes New Investment in Starbucks Co. (NASDAQ:SBUX)

Atlanta Consulting Group Advisors LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,355 shares of the coffee company’s stock, valued at approximately $620,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Dakota Wealth Management grew its position in Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares during the last quarter. Weil Company Inc. grew its position in Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after buying an additional 8,222 shares during the last quarter. Maia Wealth LLC grew its position in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the last quarter. Zions Bancorporation N.A. grew its position in Starbucks by 434.2% in the third quarter. Zions Bancorporation N.A. now owns 20,897 shares of the coffee company’s stock worth $2,037,000 after buying an additional 16,985 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Starbucks in the first quarter worth approximately $136,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on SBUX. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. UBS Group lifted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Barclays lowered their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, Bank of America lowered their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Trading Down 0.2 %

SBUX stock opened at $98.42 on Friday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a fifty day simple moving average of $96.75 and a 200 day simple moving average of $86.18. The firm has a market cap of $111.53 billion, a PE ratio of 29.73, a PEG ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.06 EPS. As a group, analysts forecast that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.48%. Starbucks’s payout ratio is currently 68.88%.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.98% of the company’s stock.

About Starbucks

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.