Metis Global Partners LLC Has $5.40 Million Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Metis Global Partners LLC increased its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,388 shares of the coffee company’s stock after buying an additional 1,252 shares during the quarter. Metis Global Partners LLC’s holdings in Starbucks were worth $5,400,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quent Capital LLC grew its position in shares of Starbucks by 9.6% in the first 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 in the last quarter. HBK Sorce Advisory LLC increased its position in shares of Starbucks by 11.3% during the 1st quarter. HBK Sorce Advisory LLC now owns 9,507 shares of the coffee company’s stock valued at $869,000 after purchasing an additional 967 shares during the last quarter. Leo Wealth LLC raised its holdings in shares of Starbucks by 11.2% during the 1st quarter. Leo Wealth LLC now owns 2,815 shares of the coffee company’s stock valued at $257,000 after buying an additional 283 shares in the last quarter. Brighton Jones LLC boosted its stake in shares of Starbucks by 8.7% in the 1st quarter. Brighton Jones LLC now owns 148,302 shares of the coffee company’s stock valued at $13,553,000 after purchasing an additional 11,903 shares in the last quarter. Finally, Cumberland Partners Ltd raised its position in Starbucks by 389.5% in the 1st quarter. Cumberland Partners Ltd now owns 68,703 shares of the coffee company’s stock worth $6,279,000 after purchasing an additional 54,668 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $99.46 on Thursday. The company has a market cap of $112.71 billion, a P/E ratio of 30.15, a P/E/G ratio of 2.86 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $107.66. The firm’s fifty day moving average is $96.45 and its two-hundred day moving average is $86.03.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) 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 business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the previous year, the company posted $1.06 EPS. The company’s revenue was down 3.2% compared to the same quarter last year. As a group, analysts forecast that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.61 dividend. The ex-dividend date of this dividend 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 2.45%. Starbucks’s dividend payout ratio is presently 68.88%.

Analyst Ratings Changes

A number of research firms have recently weighed in on SBUX. Barclays dropped their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. BMO Capital Markets increased their target price on shares of Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a report on Monday, September 9th. 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 report on Tuesday, October 22nd. Wedbush decreased their price target on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $102.31.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.98% of the stock is currently owned by company insiders.

About Starbucks

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.