Archer Investment Corp Grows Position in Starbucks Co. (NASDAQ:SBUX)

Archer Investment Corp grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 10.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,301 shares of the coffee company’s stock after buying an additional 213 shares during the period. Archer Investment Corp’s holdings in Starbucks were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

SBUX has been the topic of several analyst reports. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of Starbucks in a research report on Monday, November 11th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. Finally, Wedbush lowered their target price on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.81.

Starbucks Trading Down 0.2 %

Shares of NASDAQ:SBUX opened at $98.42 on Friday. The company has a market cap of $111.53 billion, a PE ratio of 29.73, a P/E/G 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 Co. has a 52 week low of $71.55 and a 52 week high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.80. The company had revenue of $9.07 billion for 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%. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the firm earned $1.06 earnings per share. As a group, equities research analysts expect 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 paid a $0.61 dividend. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is currently 73.72%.

Insiders Place Their Bets

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

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.