Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Archer Investment Corp

Archer Investment Corp raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,301 shares of the coffee company’s stock after purchasing an additional 213 shares during the quarter. Archer Investment Corp’s holdings in Starbucks were worth $224,000 as of its most recent filing with the SEC.

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

Starbucks Trading Down 0.2 %

NASDAQ:SBUX opened at $98.42 on Friday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market cap of $111.53 billion, a price-to-earnings ratio of 29.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97. The company’s 50-day moving average is $96.75 and its two-hundred day moving average is $86.19.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.06 earnings per share. On average, equities research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. Starbucks’s dividend payout ratio is 73.72%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SBUX. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. BMO Capital Markets boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Citigroup raised their price target on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Stifel Nicolaus upped their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three investment 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, Starbucks presently has a consensus rating of “Moderate Buy” and an average target price of $102.81.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 1.98% of the stock is owned by corporate 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.