Alpha Family Trust Takes $908,000 Position in Starbucks Co. (NASDAQ:SBUX)

Alpha Family Trust purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 9,310 shares of the coffee company’s stock, valued at approximately $908,000.

Other institutional investors have also recently made changes to their positions in the company. Quent Capital LLC boosted its holdings in shares of Starbucks by 9.6% in the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after buying an additional 385 shares during the last quarter. Allstate Corp boosted its holdings in shares of Starbucks by 43.0% in the first quarter. Allstate Corp now owns 3,468 shares of the coffee company’s stock worth $317,000 after buying an additional 1,042 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Starbucks by 2.5% in the first quarter. Jacobi Capital Management LLC now owns 16,136 shares of the coffee company’s stock worth $1,475,000 after buying an additional 401 shares during the last quarter. Catalytic Wealth RIA LLC boosted its holdings in shares of Starbucks by 6.0% in the first quarter. Catalytic Wealth RIA LLC now owns 5,710 shares of the coffee company’s stock worth $522,000 after buying an additional 323 shares during the last quarter. Finally, Hillsdale Investment Management Inc. boosted its holdings in shares of Starbucks by 4.6% in the first quarter. Hillsdale Investment Management Inc. now owns 3,419 shares of the coffee company’s stock worth $312,000 after buying an additional 150 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity

In related news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost 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 of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SBUX shares. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $81.00 to $110.00 in a research note on Tuesday, August 13th. Jefferies Financial Group cut shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. UBS Group raised their target price on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.81.

Starbucks Stock Down 0.2 %

NASDAQ SBUX opened at $98.42 on Friday. The company has a fifty day moving average of $96.75 and a two-hundred day moving average of $86.18. The firm has a market capitalization of $111.53 billion, a price-to-earnings ratio of 29.73, a PEG ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.06 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 68.88%.

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.