CWA Asset Management Group LLC Takes $485,000 Position in Starbucks Co. (NASDAQ:SBUX)

CWA Asset Management Group LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,970 shares of the coffee company’s stock, valued at approximately $485,000.

Other hedge funds also recently bought and sold shares of the company. Fiera Capital Corp increased its holdings in shares of Starbucks by 13.8% in the 3rd quarter. Fiera Capital Corp now owns 50,753 shares of the coffee company’s stock worth $4,948,000 after buying an additional 6,163 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Starbucks during the third quarter worth approximately $71,000. Granite Group Advisors LLC raised its position in Starbucks by 10.0% during the third quarter. Granite Group Advisors LLC now owns 31,509 shares of the coffee company’s stock valued at $3,072,000 after purchasing an additional 2,866 shares during the period. Heritage Wealth Management Inc. bought a new stake in shares of Starbucks in the 3rd quarter valued at approximately $249,000. Finally, Palmer Knight Co boosted its holdings in shares of Starbucks by 0.3% in the 3rd quarter. Palmer Knight Co now owns 75,850 shares of the coffee company’s stock worth $7,395,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Up 2.8 %

SBUX stock opened at $100.31 on Tuesday. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock has a market capitalization of $113.67 billion, a PE ratio of 30.31, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97. The firm has a 50 day moving average of $96.07 and a 200 day moving average of $85.77.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) 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 firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm earned $1.06 EPS. The firm’s revenue was down 3.2% on a year-over-year basis. On average, equities research analysts expect that Starbucks Co. will post 3.15 earnings per share for the current 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. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.43%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 73.72%.

Insider Buying and Selling

In other news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % 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.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. Citigroup increased their price objective on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BTIG Research boosted their target price on Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Finally, DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target on the stock. in a report on Wednesday, August 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Starbucks presently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

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.