Alpha Family Trust Buys Shares of 9,310 Starbucks Co. (NASDAQ:SBUX)

Alpha Family Trust purchased a new stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,310 shares of the coffee company's stock, valued at approximately $908,000.

A number of other hedge funds also recently modified their holdings of SBUX. Quent Capital LLC lifted its stake in shares of Starbucks by 9.6% in the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company's stock valued at $401,000 after purchasing an additional 385 shares during the period. Allstate Corp increased its stake in shares of Starbucks by 43.0% in the 1st quarter. Allstate Corp now owns 3,468 shares of the coffee company's stock valued at $317,000 after acquiring an additional 1,042 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in Starbucks by 2.5% during the first quarter. Jacobi Capital Management LLC now owns 16,136 shares of the coffee company's stock worth $1,475,000 after acquiring an additional 401 shares in the last quarter. Catalytic Wealth RIA LLC increased its stake in Starbucks by 6.0% in the first quarter. Catalytic Wealth RIA LLC now owns 5,710 shares of the coffee company's stock valued at $522,000 after purchasing an additional 323 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of Starbucks by 4.6% during the first quarter. Hillsdale Investment Management Inc. now owns 3,419 shares of the coffee company's stock valued at $312,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 72.29% of the company's stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a "hold" rating to a "buy" rating and increased their target price for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. UBS Group raised their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Wednesday, October 23rd. BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Sanford C. Bernstein upgraded Starbucks from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Finally, Robert W. Baird upgraded Starbucks from a "neutral" rating to an "outperform" rating and raised their price objective for the company from $81.00 to $110.00 in a research note on Tuesday, August 13th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $102.81.

Starbucks Stock Performance

Shares of NASDAQ SBUX traded down $0.20 during midday trading on Friday, hitting $98.42. 8,119,864 shares of the company traded hands, compared to its average volume of 8,457,006. The stock has a 50-day moving average price of $96.75 and a 200 day moving average price of $86.18. The firm has a market cap of $111.53 billion, a P/E ratio of 29.73, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66.

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, meeting the consensus estimate of $0.80. The company 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%. The firm's revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.06 earnings per share. As a group, equities analysts expect that Starbucks Co. will post 3.15 earnings per share for the current 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 paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. This is a positive change 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 (DPR) is presently 68.88%.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction 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 purchase, the director now 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.98% of the stock is currently owned by corporate insiders.

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.