Truvestments Capital LLC Purchases 1,652 Shares of Starbucks Co. (NASDAQ:SBUX)

Truvestments Capital LLC boosted its position in Starbucks Co. (NASDAQ:SBUX) by 17.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,036 shares of the coffee company’s stock after purchasing an additional 1,652 shares during the period. Truvestments Capital LLC’s holdings in Starbucks were worth $1,076,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Harvest Fund Management Co. Ltd increased its stake in shares of Starbucks by 60.4% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 56,952 shares of the coffee company’s stock worth $5,555,000 after purchasing an additional 21,442 shares in the last quarter. Fisher Asset Management LLC lifted its position in Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Starbucks by 14.4% during the third quarter. Daiwa Securities Group Inc. now owns 225,690 shares of the coffee company’s stock valued at $22,003,000 after purchasing an additional 28,483 shares during the period. Summit Trail Advisors LLC increased its position in Starbucks by 3.0% in the third quarter. Summit Trail Advisors LLC now owns 17,170 shares of the coffee company’s stock worth $1,674,000 after buying an additional 498 shares in the last quarter. Finally, SevenBridge Financial Group LLC raised its stake in shares of Starbucks by 15.5% in the third quarter. SevenBridge Financial Group LLC now owns 3,639 shares of the coffee company’s stock worth $365,000 after buying an additional 488 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SBUX. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research note on Wednesday, August 21st. Redburn Atlantic reiterated 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. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Price Performance

NASDAQ:SBUX opened at $102.75 on Monday. The firm has a market capitalization of $116.50 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.00 and a beta of 0.97. The business has a 50 day simple moving average of $97.11 and a 200-day simple moving average of $87.19. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.09.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting 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 during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the company earned $1.06 earnings per share. Starbucks’s revenue was down 3.2% on a year-over-year basis. As a group, analysts expect that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company 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 dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.37%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is presently 73.72%.

Insider Buying and Selling

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value 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 represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 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 currently owned by corporate insiders.

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.