Brooklyn Investment Group Boosts Stock Position in Starbucks Co. (NASDAQ:SBUX)

Brooklyn Investment Group boosted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,349 shares of the coffee company’s stock after purchasing an additional 373 shares during the period. Brooklyn Investment Group’s holdings in Starbucks were worth $521,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its position in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock valued at $1,928,339,000 after purchasing an additional 7,015,375 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Starbucks by 2.9% during the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock valued at $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. Legal & General Group Plc increased its position in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after buying an additional 221,718 shares during the period. Van ECK Associates Corp raised its stake in Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after buying an additional 2,324,847 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after buying an additional 9,900 shares during the period. Institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group upped their target price on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, October 23rd. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. BTIG Research boosted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Citigroup increased their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Insider Buying and Selling at Starbucks

In other news, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares in the company, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.2 %

Shares of SBUX stock opened at $102.00 on Tuesday. The firm has a market capitalization of $115.65 billion, a PE ratio of 30.77, a P/E/G ratio of 3.00 and a beta of 0.97. The company has a 50 day moving average price of $97.22 and a 200-day moving average price of $87.38. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX) last announced its 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. The business 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%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.06 EPS. Analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current 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 issued 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 dividend on an annualized basis and a yield of 2.39%. Starbucks’s dividend payout ratio is currently 73.72%.

Starbucks Company 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.