Harvest Fund Management Co. Ltd Buys 21,442 Shares of Starbucks Co. (NASDAQ:SBUX)

Harvest Fund Management Co. Ltd lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 60.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,952 shares of the coffee company’s stock after buying an additional 21,442 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Starbucks were worth $5,555,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Dakota Wealth Management boosted its holdings in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. boosted its position in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after acquiring an additional 8,222 shares during the period. Maia Wealth LLC increased its position in shares of Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after purchasing an additional 7,596 shares during the last quarter. Aljian Capital Management LLC lifted its stake in shares of Starbucks by 48.5% in the 3rd quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after purchasing an additional 9,900 shares during the period. 72.29% of the stock is owned by institutional investors.

Starbucks Stock Performance

Shares of Starbucks stock opened at $102.50 on Monday. The company has a 50-day simple moving average of $97.11 and a two-hundred day simple moving average of $87.19. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.60. The stock has a market capitalization of $116.21 billion, a PE ratio of 30.97, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.06 EPS. As a group, equities research analysts forecast that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 2.38%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, 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. 1.98% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on SBUX shares. Stifel Nicolaus lifted their target price on shares of Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays dropped their target price on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Royal Bank of Canada began coverage on Starbucks in a report on Friday, November 15th. They issued an “outperform” rating and a $115.00 price objective for the company. UBS Group boosted their target price on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, BTIG Research raised their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $102.81.

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.