Starbucks Co. (NASDAQ:SBUX) Shares Bought by Liberty Capital Management Inc.

Liberty Capital Management Inc. lifted its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 10.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,937 shares of the coffee company’s stock after purchasing an additional 277 shares during the quarter. Liberty Capital Management Inc.’s holdings in Starbucks were worth $286,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter worth approximately $25,000. New Millennium Group LLC purchased a new stake in Starbucks during the 2nd quarter worth about $26,000. Stephens Consulting LLC raised its position 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 purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC purchased a new position in shares of Starbucks in the 2nd quarter valued at about $27,000. Finally, MFA Wealth Advisors LLC acquired a new position 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.

Starbucks Price Performance

Shares of SBUX stock opened at $96.82 on Wednesday. The business’s fifty day moving average price is $95.31 and its 200 day moving average price is $84.80. The firm has a market capitalization of $109.67 billion, a PE ratio of 26.67, a P/E/G ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the company posted $1.00 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis. Equities research analysts expect that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders 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 yield of 2.52%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 62.81%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. BMO Capital Markets increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Wedbush restated a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research report on Tuesday, August 13th. Finally, Barclays increased their target price on shares of Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $102.20.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

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.