ETF Store Inc. Purchases New Shares in Starbucks Co. (NASDAQ:SBUX)

ETF Store Inc. purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,226 shares of the coffee company’s stock, valued at approximately $217,000.

A number of other large investors have also added to or reduced their stakes in SBUX. Riverview Trust Co boosted its stake in Starbucks by 3.4% during the 3rd quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after acquiring an additional 105 shares during the last quarter. Essex Savings Bank boosted its stake in 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 acquiring an additional 112 shares during the last quarter. DT Investment Partners LLC boosted its stake in 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 acquiring an additional 121 shares during the last quarter. Childress Capital Advisors LLC boosted its stake in 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 acquiring an additional 126 shares during the last quarter. Finally, Keystone Wealth Services LLC boosted its stake in 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 acquiring an additional 130 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Price Performance

Shares of SBUX opened at $98.42 on Monday. The firm’s 50 day moving average is $96.75 and its 200-day moving average is $86.26. The stock has a market capitalization of $111.53 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.06 earnings per share. As a group, equities research analysts forecast that Starbucks Co. will post 3.15 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. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is 68.88%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SBUX shares. 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 research report on Wednesday, August 14th. Barclays cut their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. 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 report on Tuesday, October 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Monday, November 11th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.81.

Insider Transactions at Starbucks

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost 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 in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.98% of the stock is currently 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.