Alexander Labrunerie & CO. Inc. Has $384,000 Stock Position in Starbucks Co. (NASDAQ:SBUX)

Alexander Labrunerie & CO. Inc. increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 18.3% during the third quarter, Holdings Channel reports. The fund owned 3,943 shares of the coffee company’s stock after acquiring an additional 611 shares during the quarter. Alexander Labrunerie & CO. Inc.’s holdings in Starbucks were worth $384,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC acquired a new position in Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC lifted its stake in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after acquiring an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in Starbucks during the 2nd quarter worth about $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks during the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

SBUX has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and increased their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Oppenheimer reiterated a “market perform” rating on shares of Starbucks in a research report on Monday, August 26th. Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their price objective on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Stifel Nicolaus upgraded Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $110.00 in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $102.40.

Starbucks Stock Up 0.4 %

Shares of NASDAQ:SBUX opened at $96.82 on Wednesday. The business has a 50 day moving average price of $95.31 and a 200 day moving average price of $84.80. The company has a market cap of $109.67 billion, a price-to-earnings ratio of 26.67, 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.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the business earned $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. Analysts anticipate that Starbucks Co. will post 3.55 EPS for the current 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 2.52%. Starbucks’s payout ratio is presently 62.81%.

Insider Activity

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