NFJ Investment Group LLC Purchases 1,953 Shares of Starbucks Co. (NASDAQ:SBUX)

NFJ Investment Group LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 176,453 shares of the coffee company’s stock after buying an additional 1,953 shares during the period. NFJ Investment Group LLC’s holdings in Starbucks were worth $17,202,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several research analysts recently commented on the company. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and reduced their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Morgan Stanley raised their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. BTIG Research increased their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Finally, Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Stock Performance

SBUX stock traded down $0.76 during midday trading on Tuesday, hitting $100.75. 487,107 shares of the company’s stock were exchanged, compared to its average volume of 10,910,352. Starbucks Co. has a one year low of $71.55 and a one year high of $103.32. The company has a market cap of $114.23 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. The stock’s fifty day moving average price is $97.63 and its 200-day moving average price is $88.10.

Starbucks (NASDAQ:SBUX) last announced its quarterly 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. On average, analysts expect that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.42%. Starbucks’s payout ratio is 73.72%.

Insider Transactions at Starbucks

In other 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 completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

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.