4,500 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Gordian Advisors LLC

Gordian Advisors LLC bought a new stake in Starbucks Co. (NASDAQ:SBUX) during the third quarter, HoldingsChannel.com reports. The firm bought 4,500 shares of the coffee company’s stock, valued at approximately $439,000. Starbucks comprises about 0.4% of Gordian Advisors LLC’s investment portfolio, making the stock its 18th largest position.

Several other institutional investors have also recently bought and sold shares of the business. Quent Capital LLC lifted its stake in Starbucks by 9.6% in the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after purchasing an additional 385 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Starbucks by 17.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 22,757 shares of the coffee company’s stock worth $2,080,000 after buying an additional 3,450 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lifted its stake in shares of Starbucks by 27.7% in the 1st quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 3,141 shares of the coffee company’s stock valued at $287,000 after acquiring an additional 681 shares during the last quarter. Mediolanum International Funds Ltd acquired a new stake in shares of Starbucks during the 1st quarter valued at $3,254,000. Finally, Richardson Financial Services Inc. grew its position in Starbucks by 17.5% during the 1st quarter. Richardson Financial Services Inc. now owns 2,715 shares of the coffee company’s stock worth $248,000 after acquiring an additional 405 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Trading Down 0.9 %

SBUX stock traded down $0.84 during trading on Wednesday, reaching $96.25. 1,288,609 shares of the stock were exchanged, compared to its average volume of 11,218,548. The firm’s 50 day moving average is $95.97 and its 200 day moving average is $85.60. The firm has a market cap of $109.07 billion, a P/E ratio of 29.33, a price-to-earnings-growth ratio of 2.81 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66.

Starbucks (NASDAQ:SBUX) last issued its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.06 earnings per share. As a group, analysts predict that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.54%. Starbucks’s payout ratio is presently 68.88%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SBUX shares. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the company from $92.00 to $115.00 in a research note on Thursday, September 26th. Bank of America reduced their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 target price on shares of Starbucks in a report on Wednesday, October 23rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Insider Buying and Selling

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’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 transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by company insiders.

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.