Starbucks Co. (NASDAQ:SBUX) Shares Bought by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 63.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 32,106 shares of the coffee company’s stock after purchasing an additional 12,454 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Starbucks were worth $3,130,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Riverview Trust Co increased its holdings in Starbucks by 3.4% in the third quarter. Riverview Trust Co now owns 3,199 shares of the coffee company’s stock valued at $312,000 after buying an additional 105 shares in the last quarter. DT Investment Partners LLC increased its stake in Starbucks by 39.4% in the 3rd quarter. DT Investment Partners LLC now owns 428 shares of the coffee company’s stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. Childress Capital Advisors LLC raised its holdings in Starbucks by 4.8% during the third quarter. Childress Capital Advisors LLC now owns 2,727 shares of the coffee company’s stock worth $266,000 after purchasing an additional 126 shares during the last quarter. Keystone Wealth Services LLC boosted its position in Starbucks by 1.3% during the third quarter. Keystone Wealth Services LLC now owns 10,151 shares of the coffee company’s stock worth $990,000 after purchasing an additional 130 shares in the last quarter. Finally, Chicago Capital LLC grew its holdings in Starbucks by 0.6% in the third quarter. Chicago Capital LLC now owns 21,129 shares of the coffee company’s stock valued at $2,060,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

In related news, 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 transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % 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 1.2 %

Starbucks stock opened at $98.87 on Friday. The firm has a fifty day moving average of $95.98 and a 200-day moving average of $85.47. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm has a market capitalization of $112.04 billion, a P/E ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 EPS. On average, research analysts expect that Starbucks Co. will post 3.42 EPS for the current fiscal year.

Starbucks Increases Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SBUX. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Wedbush reduced their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised Starbucks from a “hold” rating to a “buy” rating and raised their price target for the stock from $85.00 to $118.00 in a research report on Wednesday, August 14th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.32.

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.