Aljian Capital Management LLC Acquires 9,936 Shares of Starbucks Co. (NASDAQ:SBUX)

Aljian Capital Management LLC raised its holdings in Starbucks Co. (NASDAQ:SBUX - Free Report) by 48.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,422 shares of the coffee company's stock after purchasing an additional 9,936 shares during the period. Starbucks comprises approximately 0.7% of Aljian Capital Management LLC's holdings, making the stock its 21st largest holding. Aljian Capital Management LLC's holdings in Starbucks were worth $2,966,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of SBUX. TrinityPoint Wealth LLC boosted its stake in Starbucks by 8.4% during the 3rd quarter. TrinityPoint Wealth LLC now owns 3,332 shares of the coffee company's stock valued at $325,000 after purchasing an additional 258 shares during the period. Swiss National Bank raised its stake in shares of Starbucks by 0.3% in the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company's stock valued at $327,771,000 after purchasing an additional 9,900 shares during the period. Claro Advisors LLC increased its position in shares of Starbucks by 35.8% in the third quarter. Claro Advisors LLC now owns 16,955 shares of the coffee company's stock valued at $1,653,000 after acquiring an additional 4,474 shares during the last quarter. RiverPark Advisors LLC raised its stake in Starbucks by 7.5% in the third quarter. RiverPark Advisors LLC now owns 7,886 shares of the coffee company's stock valued at $769,000 after buying an additional 551 shares during the period. Finally, Ceera Investments LLC lifted its holdings in Starbucks by 1.7% during the 3rd quarter. Ceera Investments LLC now owns 36,954 shares of the coffee company's stock worth $3,603,000 after purchasing an additional 605 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company's stock.

Insider Activity 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 acquired at an average price 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 $3,316,143. This trade represents a 1.06 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Rachel Ruggeri sold 1,452 shares of the firm's stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now directly owns 65,648 shares of the company's stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Stock Performance

Starbucks stock traded up $1.98 during midday trading on Monday, reaching $100.40. The stock had a trading volume of 7,041,500 shares, compared to its average volume of 11,129,542. The stock has a market capitalization of $113.77 billion, a PE ratio of 30.33, a price-to-earnings-growth ratio of 2.85 and a beta of 0.97. The stock's 50-day simple moving average is $96.91 and its 200 day simple moving average is $86.44. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $105.47.

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

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.43%. This is an increase from Starbucks's previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks's dividend payout ratio is presently 68.88%.

Analysts Set New Price Targets

SBUX has been the subject of a number of analyst reports. Wedbush lowered their target price on shares of Starbucks from $98.00 to $95.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Citigroup boosted their price objective on shares of Starbucks from $96.00 to $99.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Barclays reduced their price target on shares of Starbucks from $110.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. BMO Capital Markets raised their price objective 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, Baird R W raised shares of Starbucks from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 13th. 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 issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $102.81.

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.