Argonautica Private Wealth Management Inc. Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Argonautica Private Wealth Management Inc. raised its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 0.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,088 shares of the coffee company’s stock after purchasing an additional 361 shares during the period. Starbucks accounts for 1.5% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 16th biggest position. Argonautica Private Wealth Management Inc.’s holdings in Starbucks were worth $4,493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Riverview Trust Co raised its position in shares of Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares during the last quarter. DT Investment Partners LLC increased its position in Starbucks by 39.4% during the third quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. Childress Capital Advisors LLC increased its position in Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after purchasing an additional 126 shares during the last quarter. Keystone Wealth Services LLC increased its position in Starbucks by 1.3% during the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares during the last quarter. Finally, Chicago Capital LLC increased its position in Starbucks by 0.6% during the third quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock worth $2,060,000 after purchasing an additional 132 shares during the last quarter. 72.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on SBUX shares. Stifel Nicolaus raised their price objective on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley raised their price objective on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. BTIG Research lifted their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. 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 shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

Insider Activity

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction 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 in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of NASDAQ:SBUX traded up $1.17 during trading on Friday, hitting $98.87. 8,860,191 shares of the company were exchanged, compared to its average volume of 7,444,304. The stock has a market capitalization of $112.04 billion, a P/E ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm’s 50 day moving average price is $95.98 and its 200-day moving average price is $85.47.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.06 EPS. As a group, equities research analysts anticipate that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is presently 68.88%.

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.