2,497 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Encompass More Asset Management

Encompass More Asset Management bought a new position in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 2,497 shares of the coffee company’s stock, valued at approximately $243,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in 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 buying an additional 7,015,375 shares in the last quarter. Fisher Asset Management LLC grew its stake in shares of Starbucks by 2.9% in the third 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 in the last quarter. Legal & General Group Plc increased its holdings in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the period. Van ECK Associates Corp increased its stake in Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after acquiring an additional 9,900 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on SBUX shares. JPMorgan Chase & Co. boosted their target price on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. UBS Group boosted their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Citigroup raised their target price on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price target (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Stock Performance

SBUX stock opened at $102.46 on Friday. The stock has a market cap of $116.17 billion, a P/E ratio of 30.95, a P/E/G ratio of 3.00 and a beta of 0.97. The firm has a 50 day simple moving average of $97.63 and a 200 day simple moving average of $88.01. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX) last issued 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same quarter last year, the business posted $1.06 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts predict that Starbucks Co. will post 3.12 EPS for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a dividend of $0.61 per share. The ex-dividend date was Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.38%. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Activity

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the completion of the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Starbucks Company 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.