Starbucks Co. (NASDAQ:SBUX) Shares Bought by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its position in Starbucks Co. (NASDAQ:SBUX) by 434.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,897 shares of the coffee company’s stock after buying an additional 16,985 shares during the quarter. Zions Bancorporation N.A.’s holdings in Starbucks were worth $2,037,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the second quarter valued at $25,000. New Millennium Group LLC acquired a new position in Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC raised its position in Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after buying an additional 279 shares during the period. Hobbs Group Advisors LLC acquired a new position in Starbucks during the second quarter valued at $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks during the second quarter valued at $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SBUX. Bank of America dropped their target price on Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. BMO Capital Markets upped their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research report on Monday, September 9th. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Morgan Stanley upped their price target on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.31.

Starbucks Stock Performance

Shares of NASDAQ SBUX opened at $99.23 on Friday. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The company has a 50 day simple moving average of $96.45 and a two-hundred day simple moving average of $86.03. The company has a market capitalization of $112.45 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 2.89 and a beta of 0.97.

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

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $0.61 dividend. 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 yield of 2.46%. Starbucks’s dividend payout ratio (DPR) is presently 68.88%.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 1.98% of the company’s stock.

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.