Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Dakota Wealth Management

Dakota Wealth Management increased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 55,793 shares of the coffee company’s stock after acquiring an additional 300 shares during the period. Dakota Wealth Management’s holdings in Starbucks were worth $5,439,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SBUX. Ontario Teachers Pension Plan Board purchased a new stake in Starbucks in the 1st quarter worth $415,167,000. Marshall Wace LLP raised its position in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new position in Starbucks in the 2nd quarter valued at about $243,910,000. Flossbach Von Storch AG boosted its holdings in Starbucks by 106.7% in the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock worth $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors purchased a new stake in Starbucks during the 1st quarter worth approximately $257,721,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Price Performance

SBUX opened at $97.31 on Friday. The stock has a market capitalization of $110.22 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97. The business has a fifty day moving average price of $95.43 and a 200 day moving average price of $84.98. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned $1.00 EPS. On average, research analysts anticipate that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given 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 dividend on an annualized basis and a yield of 2.51%. Starbucks’s payout ratio is 67.22%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. BMO Capital Markets lifted their price target on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Barclays upped their target price on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus decreased their target price on shares of Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $102.48.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, 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 dated Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 transaction of $299,916.40. Following the sale, the chief executive officer now owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.