Zevin Asset Management LLC Invests $422,000 in Starbucks Co. (NASDAQ:SBUX)

Zevin Asset Management LLC bought a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 4,331 shares of the coffee company’s stock, valued at approximately $422,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC boosted its position in 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 buying an additional 279 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks in the 2nd quarter worth approximately $27,000. Finally, Olistico Wealth LLC purchased a new position in Starbucks during the 2nd quarter worth approximately $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on SBUX. Barclays cut their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Redburn Atlantic reiterated a “sell” rating and set a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Stifel Nicolaus boosted their price objective on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Wedbush dropped their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Royal Bank of Canada initiated coverage on Starbucks in a report on Friday. They issued an “outperform” rating and a $115.00 price target for the company. Three investment analysts have rated the stock with a sell rating, nine have given 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Activity

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased 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 of the company’s stock, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ SBUX opened at $98.42 on Monday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The firm has a market capitalization of $111.53 billion, a P/E ratio of 29.73, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The stock’s fifty day moving average is $96.75 and its two-hundred day moving average is $86.26.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during 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% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 earnings per share. As a group, sell-side analysts forecast that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. Starbucks’s dividend payout ratio (DPR) is currently 68.88%.

Starbucks Profile

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.