Citizens Financial Group Inc. RI Has $3.27 Million Position in Starbucks Corporation $SBUX

Citizens Financial Group Inc. RI boosted its stake in Starbucks Corporation (NASDAQ:SBUX) by 13.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,667 shares of the coffee company’s stock after buying an additional 4,220 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Starbucks were worth $3,268,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of SBUX. Game Plan Financial Advisors LLC acquired a new position in Starbucks in the second quarter worth approximately $25,000. Chelsea Counsel Co. acquired a new position in shares of Starbucks during the 2nd quarter worth $26,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Starbucks by 125.2% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock valued at $28,000 after purchasing an additional 159 shares in the last quarter. McClarren Financial Advisors Inc. bought a new stake in Starbucks in the first quarter worth $29,000. Finally, Nova Wealth Management Inc. increased its position in Starbucks by 285.4% during the first quarter. Nova Wealth Management Inc. now owns 316 shares of the coffee company’s stock worth $31,000 after buying an additional 234 shares during the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $84.78 on Monday. Starbucks Corporation has a 52-week low of $75.50 and a 52-week high of $117.46. The business has a fifty day moving average of $83.76 and a two-hundred day moving average of $87.63. The stock has a market cap of $96.37 billion, a PE ratio of 51.70, a PEG 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03). The firm had revenue of $9.57 billion for the quarter, compared to the consensus estimate of $9.41 billion. Starbucks had a net margin of 4.99% and a negative return on equity of 31.84%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.80 earnings per share. Analysts predict that Starbucks Corporation will post 2.99 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 28th. Investors of record on Friday, November 14th will be given a dividend of $0.62 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.61. The ex-dividend date is Friday, November 14th. This represents a $2.48 annualized dividend and a yield of 2.9%. Starbucks’s dividend payout ratio is currently 151.22%.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp bought 11,700 shares of the company’s stock in a transaction on Monday, November 10th. The stock was bought at an average cost 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 in the company, valued at approximately $4,513,160. The trade was a 28.26% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SBUX. BMO Capital Markets reaffirmed an “outperform” rating on shares of Starbucks in a research report on Thursday, October 30th. Morgan Stanley set a $105.00 price target on Starbucks and gave the company an “overweight” rating in a research report on Monday, October 20th. Citigroup lowered their target price on Starbucks from $84.00 to $83.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. 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. Finally, Piper Sandler cut their target price on shares of Starbucks from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.