Woodson Capital Management LP Buys 10,580 Shares of Starbucks Co. (NASDAQ:SBUX)

Woodson Capital Management LP raised its position in Starbucks Co. (NASDAQ:SBUX) by 12.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 95,580 shares of the coffee company’s stock after acquiring an additional 10,580 shares during the period. Starbucks comprises approximately 1.8% of Woodson Capital Management LP’s holdings, making the stock its 22nd largest holding. Woodson Capital Management LP’s holdings in Starbucks were worth $9,318,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks in the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new position in shares of Starbucks during the second quarter valued at $26,000. Stephens Consulting LLC boosted its stake in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks in the 2nd quarter worth about $27,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Starbucks during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity at Starbucks

In related news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the transaction, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the business’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 of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Sanford C. Bernstein upgraded Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $92.00 to $115.00 in a research report on Thursday, September 26th. Morgan Stanley increased their target price on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price target on shares of Starbucks in a report on Monday, November 11th. Finally, Wedbush lowered their price objective on shares of Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $103.77.

Starbucks Stock Up 0.8 %

Shares of NASDAQ:SBUX opened at $101.51 on Friday. The firm has a market cap of $115.09 billion, a price-to-earnings ratio of 30.67, a PEG ratio of 2.97 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $103.32. The company’s fifty day simple moving average is $97.50 and its 200 day simple moving average is $87.74.

Starbucks (NASDAQ:SBUX) last announced its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. Starbucks’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.06 EPS. Research analysts expect that Starbucks Co. will post 3.12 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 paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.40%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s dividend payout ratio is currently 73.72%.

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.