RPg Family Wealth Advisory LLC Buys Shares of 2,068 Starbucks Co. (NASDAQ:SBUX)

RPg Family Wealth Advisory LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,068 shares of the coffee company’s stock, valued at approximately $202,000.

Several other institutional investors and hedge funds have also made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the second quarter worth approximately $25,000. New Millennium Group LLC acquired a new position in shares of Starbucks during the 2nd quarter valued at $26,000. Stephens Consulting LLC raised its stake in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new stake in shares of Starbucks in the second quarter valued at $27,000. Finally, Olistico Wealth LLC bought a new position in Starbucks during the second quarter valued at about $31,000. 72.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This trade represents a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the transaction, 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 disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Sanford C. Bernstein upgraded shares of Starbucks from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Morgan Stanley boosted their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Evercore ISI upgraded shares of Starbucks from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Wedbush dropped their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, nine have assigned 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.com, the company presently has an average rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Stock Performance

NASDAQ:SBUX opened at $100.70 on Wednesday. The company has a market capitalization of $114.17 billion, a P/E ratio of 30.42, a P/E/G ratio of 2.98 and a beta of 0.97. The stock’s 50 day moving average price is $97.30 and its 200 day moving average price is $87.55. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32.

Starbucks (NASDAQ:SBUX) last released 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. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter last year, the firm earned $1.06 EPS. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. As a group, sell-side analysts forecast that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.42%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

About Starbucks

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.