Coerente Capital Management Purchases 2,926 Shares of Starbucks Co. (NASDAQ:SBUX)

Coerente Capital Management increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 209,067 shares of the coffee company’s stock after purchasing an additional 2,926 shares during the period. Starbucks comprises about 3.8% of Coerente Capital Management’s investment portfolio, making the stock its 15th largest position. Coerente Capital Management’s holdings in Starbucks were worth $20,382,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SBUX. Fidelis Capital Partners LLC boosted its stake in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after buying an additional 1,751 shares in the last quarter. AMI Asset Management Corp boosted its stake in Starbucks by 2.8% in the first quarter. AMI Asset Management Corp now owns 365,292 shares of the coffee company’s stock worth $33,384,000 after purchasing an additional 10,092 shares in the last quarter. LRI Investments LLC acquired a new position in Starbucks in the first quarter worth $136,000. BNP Paribas acquired a new position in shares of Starbucks during the first quarter valued at $9,332,000. Finally, Great Valley Advisor Group Inc. lifted its stake in shares of Starbucks by 45.8% during the second quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after acquiring an additional 5,377 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Insider Activity at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was bought 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 approximately $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 Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays upped their price objective on Starbucks from $93.00 to $110.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. DZ Bank downgraded Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a report on Wednesday, August 21st. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Finally, Citigroup dropped their price objective on Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a report on Wednesday. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.15 on Friday. The company has a market cap of $110.09 billion, a PE ratio of 27.21, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The stock has a 50-day simple moving average of $95.38 and a 200 day simple moving average of $84.89.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same period last year, the company earned $1.00 earnings per share. Starbucks’s quarterly revenue was down .6% on a year-over-year basis. On average, research analysts predict that Starbucks Co. will post 3.55 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. 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 annualized dividend and a yield of 2.51%. Starbucks’s dividend payout ratio is 63.87%.

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.