FSA Wealth Management LLC Takes $49,000 Position in Starbucks Co. (NASDAQ:SBUX)

FSA Wealth Management LLC acquired a new position in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 500 shares of the coffee company’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new stake in Starbucks during the 3rd quarter valued at $55,096,000. Maverick Capital Ltd. boosted its holdings in shares of Starbucks by 34.3% in the third quarter. Maverick Capital Ltd. now owns 1,914,332 shares of the coffee company’s stock worth $186,628,000 after acquiring an additional 488,979 shares during the period. Encompass More Asset Management purchased a new position in shares of Starbucks in the third quarter valued at $243,000. Acropolis Investment Management LLC raised its stake in shares of Starbucks by 6.7% during the 3rd quarter. Acropolis Investment Management LLC now owns 4,693 shares of the coffee company’s stock valued at $458,000 after purchasing an additional 293 shares during the period. Finally, Kolinsky Wealth Management LLC lifted its holdings in Starbucks by 12.6% during the 3rd quarter. Kolinsky Wealth Management LLC now owns 3,575 shares of the coffee company’s stock worth $349,000 after purchasing an additional 401 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price target on Starbucks from $110.00 to $115.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and increased their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. TD Cowen reissued a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. BMO Capital Markets upped their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Trading Up 0.9 %

NASDAQ SBUX opened at $102.46 on Monday. The firm has a market cap of $116.17 billion, a PE ratio of 30.95, a price-to-earnings-growth ratio of 3.00 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $103.32. The stock has a 50-day moving average of $97.63 and a 200-day moving average of $88.10.

Starbucks (NASDAQ:SBUX) last announced 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 firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 earnings per share. The business’s revenue was down 3.2% on a year-over-year basis. As a group, equities research analysts forecast that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Buying and Selling at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Rachel Ruggeri sold 1,491 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total value of $148,414.14. Following the transaction, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

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.