Goldstein Advisors LLC Acquires Shares of 2,259 Starbucks Co. (NASDAQ:SBUX)

Goldstein Advisors LLC acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,259 shares of the coffee company’s stock, valued at approximately $220,000.

Other hedge funds have also bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the second quarter valued at $25,000. New Millennium Group LLC purchased a new stake in shares of Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC boosted its stake in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the period. Hobbs Group Advisors LLC purchased a new stake in shares of Starbucks during the second quarter valued at $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Starbucks in the second quarter worth about $31,000. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 0.2 %

Shares of NASDAQ:SBUX opened at $97.31 on Friday. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company’s 50 day moving average is $95.48 and its 200 day moving average is $85.03. The company has a market cap of $110.22 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97.

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

Starbucks Increases Dividend

The firm also recently declared 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. This represents a $2.44 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 67.22%.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on 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 owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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 owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and issued a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday. Barclays upped their price objective on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Citigroup lowered their price objective on shares of Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, BMO Capital Markets increased their price target on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Monday, September 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average price target of $102.48.

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.