Strategic Blueprint LLC Invests $209,000 in Starbucks Co. (NASDAQ:SBUX)

Strategic Blueprint LLC purchased a new position in shares of Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,145 shares of the coffee company’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SBUX. Allspring Global Investments Holdings LLC increased its stake in shares of Starbucks by 95.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 312,309 shares of the coffee company’s stock worth $28,542,000 after acquiring an additional 152,849 shares during the period. Prosperity Consulting Group LLC acquired a new position in shares of Starbucks during the first quarter worth about $268,000. CNB Bank grew its position in Starbucks by 6.9% during the first quarter. CNB Bank now owns 14,777 shares of the coffee company’s stock worth $1,350,000 after buying an additional 959 shares during the period. BNP Paribas acquired a new position in Starbucks during the first quarter worth about $9,332,000. Finally, Goelzer Investment Management Inc. acquired a new position in Starbucks during the first quarter worth about $4,088,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 1.2 %

SBUX opened at $98.87 on Friday. The company has a fifty day simple moving average of $95.98 and a 200 day simple moving average of $85.47. The firm has a market cap of $112.04 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.63 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month 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, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 45.15%. The firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm posted $1.06 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. On average, analysts forecast that Starbucks Co. will post 3.45 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is 68.88%.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on SBUX shares. Wedbush lowered their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday. BTIG Research upped their target price on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Morgan Stanley upped their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, UBS Group upped their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.32.

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.