Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Centaurus Financial Inc.

Centaurus Financial Inc. boosted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 39.6% in the third quarter, HoldingsChannel.com reports. The fund owned 19,045 shares of the coffee company’s stock after acquiring an additional 5,406 shares during the quarter. Centaurus Financial Inc.’s holdings in Starbucks were worth $1,857,000 as of its most recent filing with the SEC.

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

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Starbucks Stock Up 2.4 %

Shares of NASDAQ:SBUX opened at $102.50 on Monday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.60. The stock has a market cap of $116.21 billion, a P/E ratio of 30.97, a PEG ratio of 3.00 and a beta of 0.97. The business has a fifty day moving average of $97.11 and a two-hundred day moving average of $87.19.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data 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 firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations 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 period last year, the business earned $1.06 earnings per share. On average, equities analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend 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 yield of 2.38%. Starbucks’s dividend payout ratio is currently 73.72%.

Analyst Ratings Changes

Several research analysts recently weighed in on SBUX shares. Barclays reduced their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. BTIG Research raised their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Redburn Atlantic reiterated a “sell” rating and issued a $77.00 price objective (down previously from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Finally, Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their target price for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. 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 given a strong buy rating to the company. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and an average price target of $102.81.

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.