Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC increased its position in Starbucks Co. (NASDAQ:SBUX) by 12.6% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 3,575 shares of the coffee company’s stock after acquiring an additional 401 shares during the period. Kolinsky Wealth Management LLC’s holdings in Starbucks were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. Riverview Trust Co grew its position 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 buying an additional 105 shares in the last quarter. Essex Savings Bank boosted its position in shares of Starbucks by 1.6% during the 3rd quarter. Essex Savings Bank now owns 7,250 shares of the coffee company’s stock valued at $707,000 after purchasing an additional 112 shares in the last quarter. DT Investment Partners LLC boosted its position in shares of Starbucks by 39.4% during the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. Childress Capital Advisors LLC boosted its position in shares of Starbucks by 4.8% during the 3rd quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock valued at $266,000 after purchasing an additional 126 shares in the last quarter. Finally, Keystone Wealth Services LLC boosted its position in shares of Starbucks by 1.3% during the 3rd 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 in the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on SBUX. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price 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 target price 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. Finally, Bank of America dropped their target price 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 equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Stock Up 0.9 %

SBUX stock opened at $102.46 on Friday. The company has a market capitalization of $116.17 billion, a price-to-earnings ratio of 30.95, a P/E/G ratio of 2.97 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The firm has a 50 day moving average of $97.63 and a two-hundred day moving average of $87.93.

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 analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the previous year, the company earned $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, research analysts expect that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.38%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. Starbucks’s payout ratio is presently 73.72%.

Insider Transactions at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now 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 disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks 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.