Starbucks Co. (NASDAQ:SBUX) Shares Bought by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,143 shares of the coffee company’s stock after acquiring an additional 365 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Starbucks were worth $599,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new position in Starbucks in the 2nd quarter worth approximately $25,000. New Millennium Group LLC acquired a new stake in shares of Starbucks in the second quarter worth $26,000. Stephens Consulting LLC grew its holdings in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC acquired a new position in Starbucks during the second quarter valued at $27,000. Finally, Olistico Wealth LLC purchased a new stake in Starbucks in the 2nd quarter worth about $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Trading Up 1.5 %

Shares of SBUX stock opened at $97.55 on Monday. The firm has a market capitalization of $110.54 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 2.83 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The firm’s fifty day simple moving average is $96.07 and its 200 day simple moving average is $85.79.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the firm posted $1.06 EPS. The business’s revenue was down 3.2% compared to the same quarter last year. Equities research analysts anticipate that Starbucks Co. will post 3.15 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. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

Insider Activity

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on Tuesday, August 13th. The shares were 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 in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares in the company, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. TD Cowen reiterated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research note on Wednesday, October 23rd. BTIG Research lifted their target price on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. BMO Capital Markets upped their price target on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Finally, Morgan Stanley lifted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $103.32.

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.