Leo Wealth LLC Acquires Shares of 2,735 Starbucks Co. (NASDAQ:SBUX)

Leo Wealth LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,735 shares of the coffee company’s stock, valued at approximately $267,000.

Several other hedge funds have also modified their holdings of SBUX. Riverview Trust Co increased its stake in Starbucks by 3.4% in the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after purchasing an additional 105 shares in the last quarter. Astoria Portfolio Advisors LLC. grew its stake in Starbucks by 2.0% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 6,393 shares of the coffee company’s stock worth $544,000 after acquiring an additional 127 shares during the period. Keystone Wealth Services LLC grew its position in shares of Starbucks by 1.3% in the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock valued at $990,000 after purchasing an additional 130 shares during the period. Chicago Capital LLC boosted its stake in Starbucks by 0.6% in the 3rd quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock worth $2,060,000 after buying an additional 132 shares during the last quarter. Finally, M&R Capital Management Inc. grew its holdings in Starbucks by 30.9% in the 2nd quarter. M&R Capital Management Inc. now owns 567 shares of the coffee company’s stock valued at $44,000 after buying an additional 134 shares during the period. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Trading Up 0.4 %

NASDAQ:SBUX opened at $96.82 on Wednesday. The company has a 50-day moving average of $95.31 and a 200-day moving average of $84.80. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a market cap of $109.67 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.00 EPS. On average, research analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders 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 2.52%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 62.81%.

Insiders Place Their Bets

In related news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the subject of a number of research analyst reports. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Stifel Nicolaus upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the company from $80.00 to $110.00 in a report on Wednesday, August 14th. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research note on Thursday, September 12th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Finally, Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $102.40.

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.