River Road Asset Management LLC Raises Position in Starbucks Corporation $SBUX

River Road Asset Management LLC grew its position in shares of Starbucks Corporation (NASDAQ:SBUX) by 724.8% during the second quarter, Holdings Channel reports. The fund owned 623,064 shares of the coffee company’s stock after purchasing an additional 547,523 shares during the period. River Road Asset Management LLC’s holdings in Starbucks were worth $55,552,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SBUX. Game Plan Financial Advisors LLC purchased a new stake in Starbucks in the second quarter worth $25,000. Chelsea Counsel Co. bought a new stake in shares of Starbucks during the 2nd quarter valued at $26,000. CBIZ Investment Advisory Services LLC grew its position in shares of Starbucks by 125.2% in the 1st quarter. CBIZ Investment Advisory Services LLC now owns 286 shares of the coffee company’s stock worth $28,000 after buying an additional 159 shares during the period. MTM Investment Management LLC bought a new position in shares of Starbucks in the 2nd quarter worth about $28,000. Finally, McClarren Financial Advisors Inc. bought a new position in shares of Starbucks in the 1st quarter worth about $29,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insider Buying and Selling at Starbucks

In other news, Director Jorgen Vig Knudstorp acquired 11,700 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average price of $85.00 per share, with a total value of $994,500.00. Following the completion of the acquisition, the director directly owned 53,096 shares of the company’s stock, valued at approximately $4,513,160. The trade was a 28.26% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.09% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SBUX shares. Zacks Research upgraded shares of Starbucks from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 1st. Piper Sandler dropped their price target on Starbucks from $105.00 to $100.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Royal Bank Of Canada set a $100.00 price objective on Starbucks and gave the company an “outperform” rating in a research report on Thursday, October 30th. BTIG Research reissued a “buy” rating and issued a $105.00 target price on shares of Starbucks in a report on Thursday, October 30th. Finally, TD Cowen reissued a “hold” rating and issued a $84.00 target price on shares of Starbucks in a research note on Thursday, October 30th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $101.44.

Starbucks Trading Up 0.4%

SBUX stock opened at $87.04 on Monday. The stock’s 50 day simple moving average is $84.06 and its 200 day simple moving average is $87.72. Starbucks Corporation has a 12-month low of $75.50 and a 12-month high of $117.46. The stock has a market capitalization of $98.97 billion, a PE ratio of 53.07, a price-to-earnings-growth ratio of 4.28 and a beta of 1.02.

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

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.62 per share. The ex-dividend date was Friday, November 14th. This represents a $2.48 dividend on an annualized basis and a yield of 2.8%. This is a boost from Starbucks’s previous quarterly dividend of $0.61. Starbucks’s dividend payout ratio (DPR) is presently 151.22%.

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.