Drucker Wealth 3.0 LLC Purchases 3,219 Shares of Starbucks Co. (NASDAQ:SBUX)

Drucker Wealth 3.0 LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 47,911 shares of the coffee company’s stock after acquiring an additional 3,219 shares during the period. Starbucks comprises approximately 1.1% of Drucker Wealth 3.0 LLC’s portfolio, making the stock its 27th biggest holding. Drucker Wealth 3.0 LLC’s holdings in Starbucks were worth $4,671,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the second quarter valued at approximately $25,000. New Millennium Group LLC bought a new stake in Starbucks in the 2nd quarter worth $26,000. Stephens Consulting LLC increased its position in shares of 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 acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC bought a new position in shares of Starbucks during the second quarter valued at about $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Starbucks during the second quarter worth about $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several research analyst reports. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday, November 13th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. 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. Wells Fargo & Company lifted their price target on shares of Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, nine have assigned 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.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Stock Performance

NASDAQ:SBUX opened at $100.11 on Monday. The firm has a market capitalization of $113.50 billion, a PE ratio of 30.24, a PEG ratio of 2.94 and a beta of 0.97. The stock’s fifty day moving average is $98.09 and its 200 day moving average is $88.90. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $103.32.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business earned $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 3.11 EPS for the current year.

Starbucks Increases Dividend

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

Insider Transactions at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.98% of the company’s stock.

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.