Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX - Free Report) by 6.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 159,915 shares of the coffee company's stock after purchasing an additional 9,733 shares during the quarter. Townsquare Capital LLC's holdings in Starbucks were worth $15,590,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Dakota Wealth Management raised its stake in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company's stock worth $5,439,000 after acquiring an additional 300 shares in the last quarter. Weil Company Inc. increased 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 valued at $3,371,000 after buying an additional 8,222 shares in the last quarter. Maia Wealth LLC increased its stake in shares of 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 buying an additional 7,596 shares in the last quarter. Aljian Capital Management LLC increased its stake in shares of Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company's stock valued at $2,966,000 after buying an additional 9,936 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company's stock valued at $327,771,000 after buying an additional 9,900 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft upgraded Starbucks from a "hold" rating to a "buy" rating and raised their price target for the company from $85.00 to $118.00 in a report on Wednesday, August 14th. UBS Group raised their target price on Starbucks from $85.00 to $95.00 and gave the stock a "neutral" rating in a report on Wednesday, October 23rd. Wells Fargo & Company raised their target price on Starbucks from $110.00 to $115.00 and gave the stock an "overweight" rating in a report on Tuesday. Morgan Stanley raised their target price on Starbucks from $98.00 to $115.00 and gave the stock an "overweight" rating in a report on Wednesday, October 16th. Finally, Sanford C. Bernstein upgraded Starbucks from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $92.00 to $115.00 in a report on Thursday, September 26th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $103.77.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company's stock, valued at $3,316,143. The trade was a 1.06 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 1,491 shares of the company's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company's stock, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company's stock.

Starbucks Stock Up 0.7 %

Shares of NASDAQ SBUX traded up $0.74 during mid-day trading on Wednesday, reaching $101.42. 2,225,666 shares of the company were exchanged, compared to its average volume of 10,997,508. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $103.32. The stock has a market capitalization of $114.99 billion, a P/E ratio of 30.42, a P/E/G ratio of 2.98 and a beta of 0.97. The company's 50-day simple moving average is $97.30 and its 200-day simple moving average is $87.55.

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. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The firm's revenue was down 3.2% compared to the same quarter last year. During the same period last year, the company earned $1.06 EPS. As a group, equities research analysts expect that Starbucks Co. will post 3.12 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 given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks's previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.41%. Starbucks's payout ratio is presently 73.72%.

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.