AlphaCore Capital LLC Acquires 2,069 Shares of Starbucks Co. (NASDAQ:SBUX)

AlphaCore Capital LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 12.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,399 shares of the coffee company’s stock after purchasing an additional 2,069 shares during the quarter. AlphaCore Capital LLC’s holdings in Starbucks were worth $1,794,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC bought a new stake in shares of Starbucks during the second quarter worth approximately $26,000. Stephens Consulting LLC lifted its holdings in Starbucks by 498.2% in 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 period. Hobbs Group Advisors LLC bought a new position in Starbucks in the second quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in Starbucks during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on SBUX shares. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Barclays reduced their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Citigroup lifted their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and increased their price target for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Buying and Selling at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were 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 ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

Shares of Starbucks stock opened at $99.97 on Friday. The company’s 50 day moving average price is $97.03 and its two-hundred day moving average price is $86.79. The firm has a market capitalization of $113.29 billion, a P/E ratio of 30.20, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $104.68.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (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 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business earned $1.06 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.44%. 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 (DPR) is 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.