Transamerica Financial Advisors Inc. Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Transamerica Financial Advisors Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 25.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,667 shares of the coffee company’s stock after purchasing an additional 1,562 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Starbucks were worth $748,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new position in shares of Starbucks during the 2nd quarter valued at $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% during 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 during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at $27,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Price Performance

Shares of NASDAQ SBUX opened at $100.68 on Wednesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32. The stock has a market cap of $114.15 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 2.98 and a beta of 0.97. The firm has a 50-day moving average of $97.30 and a 200 day moving average of $87.55.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the company posted $1.06 EPS. Starbucks’s revenue was down 3.2% on a year-over-year basis. Research analysts expect that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend 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 2.42%. Starbucks’s payout ratio is 73.72%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on SBUX shares. Bank of America reduced their target price on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and increased their target price for the company from $81.00 to $110.00 in a report on Tuesday, August 13th. JPMorgan Chase & Co. increased their target price on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wells Fargo & Company raised their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Citigroup raised their price target on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.77.

Insiders Place Their Bets

In other news, CFO Rachel Ruggeri sold 1,452 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks 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.