Starbucks Corporation $SBUX Position Increased by KBC Group NV

KBC Group NV lifted its position in Starbucks Corporation (NASDAQ:SBUX) by 1.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 319,324 shares of the coffee company’s stock after acquiring an additional 5,024 shares during the period. KBC Group NV’s holdings in Starbucks were worth $29,260,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SBUX. Brighton Jones LLC raised its stake in Starbucks by 86.5% during the 4th quarter. Brighton Jones LLC now owns 176,722 shares of the coffee company’s stock valued at $16,126,000 after purchasing an additional 81,952 shares during the period. Allen Capital Group LLC raised its position in Starbucks by 13.2% during the first quarter. Allen Capital Group LLC now owns 6,493 shares of the coffee company’s stock valued at $637,000 after buying an additional 758 shares during the period. Mayflower Financial Advisors LLC lifted its stake in Starbucks by 14.0% in the 1st quarter. Mayflower Financial Advisors LLC now owns 3,224 shares of the coffee company’s stock worth $316,000 after acquiring an additional 396 shares in the last quarter. Verdence Capital Advisors LLC lifted its stake in Starbucks by 94.7% in the 1st quarter. Verdence Capital Advisors LLC now owns 11,147 shares of the coffee company’s stock worth $1,093,000 after acquiring an additional 5,422 shares in the last quarter. Finally, Ascent Wealth Partners LLC boosted its position in Starbucks by 69.3% during the 1st quarter. Ascent Wealth Partners LLC now owns 4,885 shares of the coffee company’s stock worth $479,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Transactions at Starbucks

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

Analysts Set New Price Targets

SBUX has been the subject of a number of research reports. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $100.00 to $115.00 in a research note on Tuesday, August 12th. Citigroup reduced their price target on Starbucks from $84.00 to $83.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Wells Fargo & Company set a $100.00 target price on shares of Starbucks and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and set a $76.00 price target on the stock. in a report on Thursday, July 17th. Finally, Royal Bank Of Canada set a $100.00 price objective on shares of Starbucks and gave the stock an “outperform” rating in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $101.44.

Starbucks Trading Down 0.9%

Shares of SBUX stock opened at $86.44 on Friday. Starbucks Corporation has a 1 year low of $75.50 and a 1 year high of $117.46. The firm’s fifty day simple moving average is $83.77 and its 200 day simple moving average is $87.55. The firm has a market capitalization of $98.26 billion, a P/E ratio of 52.71, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 29th. The coffee company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. During the same quarter in the prior year, the firm earned $0.80 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. Equities research analysts anticipate that Starbucks Corporation will post 2.99 EPS for the current fiscal year.

Starbucks Increases Dividend

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

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.