Infusive Asset Management Inc. Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Infusive Asset Management Inc. increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 104.1% during the third quarter, HoldingsChannel.com reports. The firm owned 68,493 shares of the coffee company’s stock after buying an additional 34,942 shares during the period. Starbucks accounts for 2.8% of Infusive Asset Management Inc.’s portfolio, making the stock its 14th largest position. Infusive Asset Management Inc.’s holdings in Starbucks were worth $6,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC purchased a new position in Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks in the second quarter worth $27,000. Finally, Olistico Wealth LLC purchased a new position in shares of Starbucks in the second quarter worth $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 0.8 %

Shares of NASDAQ:SBUX opened at $101.51 on Friday. The company has a market cap of $115.09 billion, a P/E ratio of 30.67, a PEG ratio of 2.97 and a beta of 0.97. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The company has a 50-day moving average price of $97.50 and a 200 day moving average price of $87.74.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results 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 company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same period last year, the firm earned $1.06 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Analysts expect that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.40%. Starbucks’s payout ratio is presently 73.72%.

Analyst Upgrades and Downgrades

Several analysts recently commented on SBUX shares. Barclays cut their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. TD Cowen reiterated a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Wells Fargo & Company upped their price objective on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, UBS Group lifted their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Three equities 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 given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.77.

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.