Osborne Partners Capital Management LLC Invests $206,000 in Starbucks Co. (NASDAQ:SBUX)

Osborne Partners Capital Management LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,117 shares of the coffee company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SBUX. Ontario Teachers Pension Plan Board bought a new position in shares of Starbucks in the first quarter valued at about $415,167,000. Marshall Wace LLP raised its position in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. bought a new position in shares of Starbucks in the second quarter valued at about $243,910,000. Flossbach Von Storch AG raised its position in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Capital World Investors bought a new position in shares of Starbucks in the first quarter valued at about $257,721,000. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Up 0.2 %

SBUX stock opened at $97.31 on Friday. The firm has a market capitalization of $110.22 billion, a PE ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock has a 50-day simple moving average of $95.48 and a two-hundred day simple moving average of $85.03.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate 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 analyst estimates of $9.25 billion. During the same quarter in the previous year, the firm earned $1.00 earnings per share. Starbucks’s revenue was down .6% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.51%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 67.22%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBUX. Wedbush restated a “neutral” rating and issued a $80.00 price target on shares of Starbucks in a research note on Tuesday, August 13th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. 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 report on Wednesday, August 21st. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

Insiders Place Their Bets

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through the SEC website. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on 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 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by 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.