Guardian Capital LP Buys New Shares in Starbucks Co. (NASDAQ:SBUX)

Guardian Capital LP acquired a new stake in Starbucks Co. (NASDAQ:SBUXGet Rating) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 22,967 shares of the coffee company’s stock, valued at approximately $1,754,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Castle Wealth Management LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $28,000. Herold Advisors Inc. bought a new position in shares of Starbucks in the 1st quarter valued at about $29,000. WFA of San Diego LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth about $32,000. Roble Belko & Company Inc lifted its stake in shares of Starbucks by 163.8% during the 1st quarter. Roble Belko & Company Inc now owns 364 shares of the coffee company’s stock worth $33,000 after buying an additional 226 shares during the last quarter. Finally, Rational Advisors LLC lifted its stake in shares of Starbucks by 73.8% during the 1st quarter. Rational Advisors LLC now owns 365 shares of the coffee company’s stock worth $33,000 after buying an additional 155 shares during the last quarter. Institutional investors own 67.97% of the company’s stock.

Starbucks Trading Up 1.1 %

SBUX traded up $1.09 during trading on Thursday, reaching $99.52. 5,944,870 shares of the company’s stock were exchanged, compared to its average volume of 8,218,242. Starbucks Co. has a one year low of $68.39 and a one year high of $117.80. The stock has a market capitalization of $114.23 billion, a PE ratio of 35.29, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87. The firm has a fifty day moving average price of $89.51 and a two-hundred day moving average price of $83.42.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.13%. This is a positive change from Starbucks’s previous quarterly dividend of $0.49. The ex-dividend date is Wednesday, November 9th. Starbucks’s payout ratio is presently 75.18%.

Insiders Place Their Bets

In other Starbucks news, EVP Zabrina Jenkins sold 4,020 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the sale, the executive vice president now directly owns 36,337 shares of the company’s stock, valued at approximately $3,379,341. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Mellody L. Hobson acquired 54,750 shares of Starbucks stock in a transaction dated Thursday, September 15th. The shares were bought at an average cost of $92.58 per share, with a total value of $5,068,755.00. Following the purchase, the director now owns 433,254 shares in the company, valued at approximately $40,110,655.32. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Zabrina Jenkins sold 4,020 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $93.00, for a total transaction of $373,860.00. Following the completion of the sale, the executive vice president now directly owns 36,337 shares in the company, valued at $3,379,341. The disclosure for this sale can be found here. Insiders own 0.27% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the subject of several analyst reports. UBS Group lifted their price objective on shares of Starbucks from $82.00 to $87.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Cowen lifted their price objective on shares of Starbucks from $94.00 to $104.00 in a research note on Thursday, August 18th. Barclays lifted their price objective on shares of Starbucks from $96.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 14th. Morgan Stanley lifted their price objective on shares of Starbucks from $88.00 to $96.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 15th. Finally, StockNews.com cut shares of Starbucks from a “buy” rating to a “hold” rating in a research note on Saturday, November 12th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Starbucks currently has a consensus rating of “Hold” and a consensus price target of $100.04.

Starbucks Company Profile

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Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty 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.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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