Plato Investment Management Ltd Purchases 403 Shares of Starbucks Co. (NASDAQ:SBUX)

Plato Investment Management Ltd grew its position in Starbucks Co. (NASDAQ:SBUX) by 2.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,451 shares of the coffee company’s stock after buying an additional 403 shares during the period. Plato Investment Management Ltd’s holdings in Starbucks were worth $1,407,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SBUX. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter worth $26,000. Stephens Consulting LLC grew 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 buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks in the 2nd quarter valued at $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks in the 2nd quarter worth $31,000. 72.29% of the stock is currently owned by institutional investors.

Starbucks Price Performance

Shares of SBUX stock opened at $99.23 on Friday. The firm’s 50-day moving average is $96.45 and its two-hundred day moving average is $86.03. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66. The company has a market capitalization of $112.45 billion, a PE ratio of 29.98, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting 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 last year, the business earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.46%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 68.88%.

Wall Street Analysts Forecast Growth

SBUX has been the topic of a number of research reports. UBS Group increased their price objective on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Citigroup raised their price target 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. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a report on Tuesday, September 24th. Bank of America cut their price objective 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. Finally, Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $102.31.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.98% of the company’s stock.

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.