Hamel Associates Inc. Has $2.34 Million Position in Starbucks Co. (NASDAQ:SBUX)

Hamel Associates Inc. lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 3.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 24,028 shares of the coffee company’s stock after acquiring an additional 897 shares during the period. Hamel Associates Inc.’s holdings in Starbucks were worth $2,342,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Dakota Wealth Management grew its stake in shares of Starbucks by 0.5% in the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the last quarter. Weil Company Inc. lifted its stake in shares of Starbucks by 31.2% in the third quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after acquiring an additional 8,222 shares during the period. Maia Wealth LLC boosted its holdings in Starbucks by 69.1% in the third quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock valued at $1,805,000 after acquiring an additional 7,596 shares during the last quarter. LRI Investments LLC acquired a new stake in Starbucks during the 1st quarter valued at approximately $136,000. Finally, Capital Investment Services of America Inc. raised its holdings in Starbucks by 4.4% during the 3rd quarter. Capital Investment Services of America Inc. now owns 189,105 shares of the coffee company’s stock worth $18,436,000 after purchasing an additional 8,040 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction 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 directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction that occurred on 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 acquisition, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Starbucks Price Performance

SBUX opened at $98.80 on Wednesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The company has a market capitalization of $111.96 billion, a price-to-earnings ratio of 29.85, a P/E/G ratio of 2.91 and a beta of 0.97. The firm’s fifty day moving average price is $96.30 and its two-hundred day moving average price is $85.93.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company posted $1.06 earnings per share. As a group, equities analysts anticipate that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.47%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is presently 68.88%.

Analyst Ratings Changes

A number of research firms have recently commented on SBUX. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. BTIG Research increased their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. upped their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Barclays lowered their target price on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Starbucks has an average rating of “Moderate Buy” and an average target price of $102.31.

Starbucks Company 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.