Argonautica Private Wealth Management Inc. Raises Stake in Starbucks Co. (NASDAQ:SBUX)

Argonautica Private Wealth Management Inc. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,088 shares of the coffee company’s stock after buying an additional 361 shares during the period. Starbucks comprises about 1.5% of Argonautica Private Wealth Management Inc.’s holdings, making the stock its 16th largest position. Argonautica Private Wealth Management Inc.’s holdings in Starbucks were worth $4,493,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC purchased a new position in Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC lifted its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in shares of Starbucks during the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC acquired a new position in shares of Starbucks during the 2nd quarter valued at about $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SBUX. JPMorgan Chase & Co. upped their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Morgan Stanley upped their price objective on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. BMO Capital Markets upped their price objective on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. Finally, Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $80.00 to $120.00 in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $103.32.

Starbucks Stock Up 1.2 %

Shares of Starbucks stock traded up $1.17 on Friday, hitting $98.87. 8,860,191 shares of the company’s stock traded hands, compared to its average volume of 7,444,304. The stock has a market cap of $112.04 billion, a P/E ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97. The firm’s 50-day moving average is $95.98 and its 200 day moving average is $85.47. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period in the prior year, the business posted $1.06 EPS. The business’s revenue was down 3.2% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 3.42 EPS for the current year.

Starbucks Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.47%. Starbucks’s dividend payout ratio (DPR) is 68.88%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company 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.