Coston McIsaac & Partners Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

by · The Cerbat Gem

Coston McIsaac & Partners lifted its position in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,137 shares of the coffee company’s stock after acquiring an additional 786 shares during the quarter. Starbucks accounts for about 1.5% of Coston McIsaac & Partners’ holdings, making the stock its 26th biggest position. Coston McIsaac & Partners’ holdings in Starbucks were worth $5,375,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SBUX. Fidelis Capital Partners LLC raised its position in shares of Starbucks by 18.7% during the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock worth $1,016,000 after purchasing an additional 1,751 shares during the last quarter. AMI Asset Management Corp lifted its stake in shares of Starbucks by 2.8% during the 1st quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after purchasing an additional 10,092 shares during the period. LRI Investments LLC purchased a new position in shares of Starbucks during the 1st quarter worth $136,000. BNP Paribas purchased a new position in shares of Starbucks during the 1st quarter worth $9,332,000. Finally, Great Valley Advisor Group Inc. raised its position in shares of Starbucks by 45.8% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after buying an additional 5,377 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SBUX shares. Stifel Nicolaus cut their target price on Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a research report on Wednesday. UBS Group lifted their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday. Barclays raised their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. BMO Capital Markets raised their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $102.48.

Get Our Latest Report on Starbucks

Insider Transactions at Starbucks

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

Starbucks Trading Down 0.2 %

Starbucks stock traded down $0.20 on Wednesday, reaching $96.62. 8,633,894 shares of the stock were exchanged, compared to its average volume of 11,332,044. The stock has a market cap of $109.44 billion, a PE ratio of 26.60, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The firm has a fifty day moving average price of $95.31 and a two-hundred day moving average price of $84.80.

Starbucks (NASDAQ:SBUX – Get Free Report) last released its 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. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.00 EPS. Equities analysts anticipate that Starbucks Co. will post 3.55 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. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.53%. Starbucks’s payout ratio is presently 62.81%.

Starbucks Company Profile

(Free Report)

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.

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