Starbucks Co. (NASDAQ:SBUX) Stock Position Increased by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in Starbucks Co. (NASDAQ:SBUX) by 3.8% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 220,529 shares of the coffee company’s stock after purchasing an additional 8,151 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Starbucks were worth $21,499,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Dakota Wealth Management raised its position in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares in the last quarter. Weil Company Inc. raised its position in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after buying an additional 8,222 shares in the last quarter. Maia Wealth LLC grew its stake in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after purchasing an additional 7,596 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Starbucks in the 1st quarter worth approximately $136,000. Finally, Capital Investment Services of America Inc. grew its stake in shares of Starbucks by 4.4% in the 3rd quarter. Capital Investment Services of America Inc. now owns 189,105 shares of the coffee company’s stock worth $18,436,000 after purchasing an additional 8,040 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares in the company, valued at approximately $7,057,327.62. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction of $305,597.50. Following the transaction, 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 position. The disclosure for this sale can be found here. 1.98% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $80.00 to $76.00 in a research report on Tuesday, September 24th. Robert W. Baird raised shares of Starbucks from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $81.00 to $110.00 in a research report on Tuesday, August 13th. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Three equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.31.

Starbucks Stock Down 1.1 %

Starbucks stock traded down $1.05 on Wednesday, hitting $97.75. The company’s stock had a trading volume of 911,103 shares, compared to its average volume of 11,147,202. The firm has a market cap of $110.77 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 2.91 and a beta of 0.97. The company has a fifty day moving average price of $96.30 and a 200-day moving average price of $85.93. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share 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 business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. Analysts anticipate that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. 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 yield of 2.50%. Starbucks’s dividend payout ratio is 68.88%.

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.