Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Benjamin Edwards Inc.

Benjamin Edwards Inc. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3,973.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,258 shares of the coffee company’s stock after purchasing an additional 115,355 shares during the period. Benjamin Edwards Inc.’s holdings in Starbucks were worth $11,529,000 at the end of the most recent reporting period.

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

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,491 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were bought at an average cost of $91.50 per share, with a total value of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, 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. Company insiders own 1.98% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the subject of a number of research analyst reports. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Redburn Atlantic restated a “sell” rating and set a $77.00 target price (down from $84.00) on shares of Starbucks in a research report on Wednesday, November 13th. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. Baird R W upgraded shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 13th. Finally, Piper Sandler upgraded shares of 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 note on Tuesday, August 13th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $103.77.

Starbucks Price Performance

Shares of Starbucks stock opened at $101.51 on Tuesday. The business has a 50 day moving average price of $97.63 and a 200 day moving average price of $88.10. The company has a market capitalization of $115.09 billion, a P/E ratio of 30.67, a P/E/G ratio of 3.00 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $103.32.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.80. The business had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The business’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.06 earnings per share. As a group, research analysts expect that Starbucks Co. will post 3.12 EPS for the current fiscal year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.40%. Starbucks’s payout ratio is 73.72%.

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.