2,255 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Running Point Capital Advisors LLC

Running Point Capital Advisors LLC bought a new position in Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,255 shares of the coffee company’s stock, valued at approximately $220,000.

Other large investors also recently modified their holdings of the company. Quent Capital LLC lifted its stake in Starbucks by 9.6% in the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after purchasing an additional 385 shares in the last quarter. Capital Group Private Client Services Inc. increased its stake in Starbucks by 1.3% in the first quarter. Capital Group Private Client Services Inc. now owns 63,277 shares of the coffee company’s stock worth $5,783,000 after purchasing an additional 797 shares during the period. Capital International Inc. CA lifted its holdings in Starbucks by 56.2% during the 1st quarter. Capital International Inc. CA now owns 43,245 shares of the coffee company’s stock valued at $3,952,000 after buying an additional 15,557 shares in the last quarter. Capital World Investors purchased a new stake in shares of Starbucks in the first quarter valued at approximately $257,721,000. Finally, Guardian Capital LP grew its position in shares of Starbucks by 5.0% during the 1st quarter. Guardian Capital LP now owns 20,044 shares of the coffee company’s stock worth $1,832,000 after buying an additional 954 shares in the last quarter. Institutional investors own 72.29% of the company’s stock.

Insider Activity 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 directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, 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. 1.98% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SBUX has been the topic of several analyst reports. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Bank of America decreased their price objective on Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Stifel Nicolaus upped their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Redburn Atlantic restated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. 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 stock. According to data from MarketBeat, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $102.81.

Starbucks Stock Performance

Shares of NASDAQ:SBUX opened at $98.26 on Thursday. The business has a fifty day moving average of $97.01 and a 200-day moving average of $86.70. The firm has a market cap of $111.35 billion, a PE ratio of 29.69, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $104.68.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for 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%. During the same period in the prior year, the business earned $1.06 earnings per share. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. On average, analysts anticipate that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 73.72%.

About Starbucks

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.