White Pine Capital LLC Purchases 1,175 Shares of Starbucks Corporation $SBUX

White Pine Capital LLC grew its holdings in shares of Starbucks Corporation (NASDAQ:SBUX) by 41.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,026 shares of the coffee company’s stock after buying an additional 1,175 shares during the quarter. White Pine Capital LLC’s holdings in Starbucks were worth $369,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Game Plan Financial Advisors LLC bought a new position in Starbucks in the 2nd quarter valued at about $25,000. Chelsea Counsel Co. acquired a new stake in shares of Starbucks during the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC increased its position in shares of Starbucks by 125.2% in the first quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after purchasing an additional 159 shares during the period. MTM Investment Management LLC acquired a new position in Starbucks in the second quarter valued at about $28,000. Finally, McClarren Financial Advisors Inc. bought a new stake in Starbucks during the first quarter worth about $29,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Zacks Research raised shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Morgan Stanley set a $105.00 price target on shares of Starbucks and gave the stock an “overweight” rating in a research report on Monday, October 20th. Sanford C. Bernstein set a $100.00 price objective on shares of Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. BTIG Research restated a “buy” rating and set a $105.00 target price on shares of Starbucks in a research note on Thursday, October 30th. Finally, Guggenheim lifted their price target on Starbucks from $79.00 to $90.00 and gave the company a “neutral” rating in a research note on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Stock Up 3.3%

Shares of SBUX stock opened at $85.35 on Friday. Starbucks Corporation has a twelve month low of $75.50 and a twelve month high of $117.46. The stock’s fifty day simple moving average is $83.83 and its 200 day simple moving average is $87.59. The firm has a market capitalization of $97.05 billion, a P/E ratio of 52.04, a P/E/G ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 EPS 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 net margin of 4.99% and a negative return on equity of 31.84%. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.80 earnings per share. As a group, equities research analysts expect that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 28th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.62 per share. This represents a $2.48 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Friday, November 14th. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s payout ratio is presently 151.22%.

Insider Transactions 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 purchased at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the purchase, the director owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. The trade was a 28.26% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.09% of the company’s stock.

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.