Mount Yale Investment Advisors LLC lessened its holdings in shares of Starbucks Co. (NASDAQ:SBUX – Free Report) by 58.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 9,723 shares of the coffee company’s stock after selling 13,437 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Starbucks were worth $948,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SBUX. Strategic Investment Solutions Inc. IL bought a new stake in Starbucks during the 2nd quarter worth about $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC lifted its position in shares of Starbucks by 498.2% during the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after purchasing an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of Starbucks during the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new stake in shares of Starbucks in the second quarter valued at approximately $31,000. 72.29% of the stock is currently owned by institutional investors and hedge funds.
Starbucks Trading Up 0.2 %
Shares of NASDAQ SBUX opened at $97.31 on Friday. The company has a fifty day moving average price of $95.43 and a 200 day moving average price of $84.98. The firm has a market cap of $110.22 billion, a PE ratio of 26.81, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66.
Starbucks (NASDAQ:SBUX – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, hitting the consensus estimate of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $9.25 billion. During the same period in the prior year, the firm earned $1.00 earnings per share. Starbucks’s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts forecast that Starbucks Co. will post 3.55 EPS for the current 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 issued 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 dividend on an annualized basis and a dividend yield of 2.51%. Starbucks’s dividend payout ratio (DPR) is 67.22%.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on the company. Evercore ISI raised Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. BMO Capital Markets upped their price target on Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Monday, September 9th. DZ Bank lowered Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Wednesday. Finally, Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Two 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.
Check Out Our Latest Report on Starbucks
Insider Transactions at Starbucks
In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, for a total transaction 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. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $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 currently owned by insiders.
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.
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