Empower Advisory Group LLC Grows Holdings in Starbucks Co. (NASDAQ:SBUX)

Empower Advisory Group LLC grew its holdings in Starbucks Co. (NASDAQ:SBUX) by 9.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,333,250 shares of the coffee company’s stock after purchasing an additional 113,501 shares during the period. Empower Advisory Group LLC owned about 0.12% of Starbucks worth $129,979,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBUX. Strategic Investment Solutions Inc. IL bought a new position in shares of Starbucks during the 2nd quarter worth $25,000. New Millennium Group LLC bought a new position in shares of Starbucks during the 2nd quarter worth $26,000. Stephens Consulting LLC grew its position in shares of Starbucks by 498.2% during the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter worth $27,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.5 %

Shares of SBUX stock opened at $98.80 on Wednesday. The stock has a 50 day moving average of $96.19 and a 200 day moving average of $85.86. The stock has a market cap of $111.96 billion, a P/E ratio of 29.85, a P/E/G ratio of 2.91 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 announced its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the business earned $1.06 earnings per share. On average, research analysts predict that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. The ex-dividend date is Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.47%. Starbucks’s payout ratio is 68.88%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price objective on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Citigroup raised their price objective on Starbucks from $96.00 to $99.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research report on Monday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Insider Activity

In other news, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The stock was 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 of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the completion of the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

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.