Atlanta Consulting Group Advisors LLC Purchases Shares of 6,355 Starbucks Co. (NASDAQ:SBUX)

Atlanta Consulting Group Advisors LLC purchased a new position in Starbucks Co. (NASDAQ:SBUX - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 6,355 shares of the coffee company's stock, valued at approximately $620,000.

A number of other large investors also recently modified their holdings of SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC acquired a new stake in Starbucks during the second quarter worth about $26,000. Stephens Consulting LLC increased its stake in 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 acquiring an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in Starbucks in the 2nd quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Starbucks in the 2nd quarter worth approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SBUX shares. BTIG Research boosted their price target on shares of Starbucks from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Royal Bank of Canada initiated coverage on Starbucks in a report on Friday. They issued an "outperform" rating and a $115.00 target price for the company. JPMorgan Chase & Co. upped their price target on Starbucks from $90.00 to $105.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. TD Cowen restated a "buy" rating and issued a $110.00 target price on shares of Starbucks in a research note on Monday, November 11th. Finally, Sanford C. Bernstein raised shares of Starbucks from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $92.00 to $115.00 in a report on Thursday, September 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Starbucks currently has an average rating of "Moderate Buy" and an average target price of $102.81.

Insider Activity at Starbucks

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.98% of the stock is currently owned by insiders.

Starbucks Stock Performance

Starbucks stock traded down $0.20 during midday trading on Friday, reaching $98.42. 8,119,864 shares of the company's stock were exchanged, compared to its average volume of 8,457,006. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The stock's 50-day simple moving average is $96.75 and its 200 day simple moving average is $86.18. The firm has a market cap of $111.53 billion, a price-to-earnings ratio of 29.73, a P/E/G ratio of 2.85 and a beta of 0.97.

Starbucks (NASDAQ:SBUX - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The business had revenue of $9.07 billion during the quarter, compared to analysts' expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same period last year, the firm posted $1.06 EPS. Research analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks's previous quarterly dividend of $0.57. Starbucks's dividend payout ratio is 68.88%.

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.