Osprey Private Wealth LLC Makes New $663,000 Investment in Starbucks Corporation $SBUX

Osprey Private Wealth LLC acquired a new stake in Starbucks Corporation (NASDAQ:SBUX) during the third quarter, Holdings Channel reports. The institutional investor acquired 7,840 shares of the coffee company’s stock, valued at approximately $663,000.

A number of other institutional investors have also made changes to their positions in the business. Game Plan Financial Advisors LLC acquired a new stake in Starbucks in the 2nd quarter valued at $25,000. Transce3nd LLC boosted its holdings in shares of Starbucks by 270.3% in the 2nd quarter. Transce3nd LLC now owns 274 shares of the coffee company’s stock valued at $25,000 after buying an additional 200 shares during the last quarter. Chelsea Counsel Co. bought a new position in shares of Starbucks in the second quarter valued at $26,000. CBIZ Investment Advisory Services LLC increased its holdings in Starbucks by 125.2% during the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the last quarter. Finally, MTM Investment Management LLC bought a new stake in Starbucks during the second quarter worth $28,000. Institutional investors own 72.29% of the company’s stock.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 11,700 shares of the company’s stock in a transaction dated Monday, November 10th. The stock was bought at an average cost of $85.00 per share, for a total transaction of $994,500.00. Following the completion of the transaction, the director owned 53,096 shares in the company, valued at approximately $4,513,160. This represents a 28.26% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Starbucks Price Performance

SBUX opened at $85.21 on Thursday. The business has a fifty day simple moving average of $84.24 and a 200 day simple moving average of $87.69. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The company has a market capitalization of $96.89 billion, a PE ratio of 51.96, a price-to-earnings-growth ratio of 1.73 and a beta of 0.98.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to analyst estimates of $9.41 billion. Starbucks had a negative return on equity of 31.32% and a net margin of 4.99%.The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.80 EPS. Equities analysts anticipate that Starbucks Corporation will post 2.99 earnings per share for the current fiscal year.

Starbucks Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Friday, February 13th will be issued a $0.62 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. Starbucks’s payout ratio is currently 151.22%.

Analysts Set New Price Targets

SBUX has been the topic of several recent analyst reports. UBS Group set a $94.00 price objective on shares of Starbucks and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Wells Fargo & Company set a $100.00 price target on Starbucks and gave the stock an “overweight” rating in a report on Thursday, October 16th. Wall Street Zen upgraded Starbucks from a “sell” rating to a “hold” rating in a research note on Saturday, November 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of Starbucks in a research note on Thursday, October 30th. Finally, Barclays cut their price target on Starbucks from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

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.