Infusive Asset Management Inc. Buys 34,942 Shares of 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, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,493 shares of the coffee company’s stock after acquiring an additional 34,942 shares during the quarter. Starbucks comprises approximately 2.8% of Infusive Asset Management Inc.’s holdings, making the stock its 14th largest holding. Infusive Asset Management Inc.’s holdings in Starbucks were worth $6,677,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC grew its holdings in shares of Starbucks by 55.0% in the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after purchasing an additional 7,015,375 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Starbucks by 2.9% in the 3rd quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Starbucks by 2.6% in the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after purchasing an additional 2,324,847 shares during the last quarter. Finally, Swiss National Bank grew its holdings in shares of Starbucks by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after purchasing an additional 9,900 shares during the last quarter. Institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 0.8 %

SBUX stock opened at $101.51 on Friday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The business has a 50-day simple moving average of $97.50 and a 200 day simple moving average of $87.74. The company has a market cap of $115.09 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 2.97 and a beta of 0.97.

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, meeting analysts’ consensus estimates of $0.80. The firm 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 business’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 earnings per share. On average, analysts anticipate that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SBUX shares. Citigroup increased their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays cut their price target on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Redburn Atlantic reissued a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, BMO Capital Markets raised their target price 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. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $103.77.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This represents a 1.06 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

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.