United Asset Strategies Inc. Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

United Asset Strategies Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 4.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 121,706 shares of the coffee company’s stock after buying an additional 4,891 shares during the period. Starbucks accounts for 1.1% of United Asset Strategies Inc.’s holdings, making the stock its 29th biggest position. United Asset Strategies Inc.’s holdings in Starbucks were worth $11,865,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks during the second quarter worth $25,000. New Millennium Group LLC purchased a new stake in Starbucks during the 2nd quarter worth approximately $26,000. Stephens Consulting LLC raised its holdings in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks in the second quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Starbucks in the second quarter worth approximately $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SBUX. Barclays raised their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Bank of America decreased their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. BMO Capital Markets upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Robert W. Baird raised 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. Finally, Jefferies Financial Group lowered Starbucks from a “hold” rating to an “underperform” rating and dropped their price target for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $102.48.

Starbucks Trading Down 1.2 %

SBUX traded down $1.17 during mid-day trading on Thursday, hitting $96.15. 4,277,246 shares of the stock were exchanged, compared to its average volume of 11,282,974. The firm’s fifty day moving average is $95.77 and its two-hundred day moving average is $85.28. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The company has a market cap of $108.96 billion, a PE ratio of 27.26, a PEG ratio of 2.59 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the prior year, the company earned $1.06 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. As a group, research analysts anticipate that Starbucks Co. will post 3.34 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared 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. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.54%. Starbucks’s payout ratio is 68.35%.

Insider Activity

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s 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 of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

About Starbucks

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.