Evergreen Wealth Management LLC Takes $1.79 Million Position in Starbucks Co. (NASDAQ:SBUX)

Evergreen Wealth Management LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 18,316 shares of the coffee company’s stock, valued at approximately $1,786,000.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the second quarter valued at approximately $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% during 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 acquired a new stake in shares of Starbucks during the second quarter worth approximately $27,000. Finally, MFA Wealth Advisors LLC acquired a new stake in shares of Starbucks during the second quarter worth approximately $31,000. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

Shares of SBUX traded down $0.20 during mid-day trading on Friday, hitting $98.42. The company’s stock had a trading volume of 8,119,864 shares, compared to its average volume of 11,147,972. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The firm has a market capitalization of $111.53 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97. The stock’s 50-day moving average is $96.75 and its two-hundred day moving average is $86.19.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business earned $1.06 earnings per share. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. Analysts expect that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The company 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 $0.61 dividend. This is a boost 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 is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost 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 in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.98% of the stock is owned by company insiders.

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. Redburn Atlantic reaffirmed a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a report on Wednesday. TD Cowen reiterated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. DZ Bank lowered shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a research note on Wednesday, August 21st. Robert W. Baird upgraded shares of Starbucks from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.81.

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.