Patrick M Sweeney & Associates Inc. Purchases 155 Shares of Starbucks Co. (NASDAQ:SBUX)

Patrick M Sweeney & Associates Inc. grew its position in Starbucks Co. (NASDAQ:SBUX) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,035 shares of the coffee company’s stock after purchasing an additional 155 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Starbucks were worth $491,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Fidelis Capital Partners LLC raised its holdings in Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after buying an additional 1,751 shares during the period. AMI Asset Management Corp lifted its position in Starbucks by 2.8% in the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock valued at $33,384,000 after acquiring an additional 10,092 shares in the last quarter. LRI Investments LLC acquired a new position in Starbucks in the 1st quarter worth $136,000. BNP Paribas bought a new position in Starbucks during the 1st quarter worth about $9,332,000. Finally, Great Valley Advisor Group Inc. raised its stake in shares of Starbucks by 45.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after purchasing an additional 5,377 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Trading Up 0.9 %

NASDAQ:SBUX opened at $97.65 on Thursday. The stock has a 50 day simple moving average of $95.38 and a 200 day simple moving average of $84.89. The stock has a market cap of $110.61 billion, a P/E ratio of 26.90, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The company’s revenue was down .6% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.55 EPS for the current year.

Starbucks Increases Dividend

The firm 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 represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is presently 62.81%.

Insider Transactions at Starbucks

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SBUX. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Stifel Nicolaus decreased their price target on shares of Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a research note on Wednesday. Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.48.

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.