Starbucks Co. (NASDAQ:SBUX) Stock Holdings Increased by Caprock Group LLC

Caprock Group LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 8.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,066 shares of the coffee company’s stock after buying an additional 1,899 shares during the period. Caprock Group LLC’s holdings in Starbucks were worth $2,346,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Marshall Wace LLP boosted its stake in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in shares of Starbucks during the second quarter valued at $243,910,000. Capital World Investors acquired a new position in shares of Starbucks in the 1st quarter valued at $257,721,000. Van ECK Associates Corp increased its stake in Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after purchasing an additional 2,324,847 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Starbucks by 89.2% during the 2nd quarter. National Bank of Canada FI now owns 2,553,739 shares of the coffee company’s stock worth $196,943,000 after buying an additional 1,204,153 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Bank of America dropped their target price 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. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Stifel Nicolaus lifted their price target on Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Morgan Stanley increased their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average cost of $91.50 per share, with a total value of $34,770.00. Following the completion of the transaction, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by corporate insiders.

Starbucks Trading Down 2.0 %

NASDAQ SBUX opened at $98.35 on Wednesday. The company has a market cap of $111.45 billion, a P/E ratio of 29.71, a P/E/G ratio of 2.85 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $105.47. The company has a fifty day simple moving average of $97.01 and a 200 day simple moving average of $86.62.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 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 analyst estimates of $9.60 billion. During the same period in the previous year, the company posted $1.06 earnings per share. The firm’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts forecast that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. Starbucks’s dividend payout ratio (DPR) is presently 73.72%.

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.