Turtle Creek Wealth Advisors LLC Increases Stake in Starbucks Co. (NASDAQ:SBUX)

Turtle Creek Wealth Advisors LLC lifted its stake in Starbucks Co. (NASDAQ:SBUX) by 6.7% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,588 shares of the coffee company’s stock after buying an additional 350 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Starbucks were worth $545,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Dakota Wealth Management grew its position in shares of Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock valued at $5,439,000 after purchasing an additional 300 shares in the last quarter. Weil Company Inc. grew its holdings in Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock valued at $3,371,000 after buying an additional 8,222 shares in the last quarter. Maia Wealth LLC increased its stake in 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 acquiring an additional 7,596 shares during the last quarter. Zions Bancorporation N.A. raised its holdings in shares of Starbucks by 434.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 20,897 shares of the coffee company’s stock worth $2,037,000 after acquiring an additional 16,985 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of Starbucks during the 1st quarter valued at approximately $136,000. Institutional investors own 72.29% of the company’s stock.

Analyst Upgrades and Downgrades

SBUX has been the topic of a number of recent research reports. Stifel Nicolaus upped their price target on shares of Starbucks from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. TD Cowen restated a “buy” rating and set a $110.00 target price on shares of Starbucks in a research report on Monday, November 11th. Wedbush dropped their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a research report on Wednesday, August 14th. Finally, Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $85.00 to $103.00 in a report on Tuesday, August 13th. Three investment 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 data from MarketBeat.com, Starbucks currently has a consensus rating of “Moderate Buy” and a consensus target price of $102.81.

Insider Activity at Starbucks

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.98% of the stock is owned by company insiders.

Starbucks Trading Down 0.2 %

Shares of SBUX stock traded down $0.20 during trading hours on Friday, hitting $98.42. The company’s stock had a trading volume of 8,119,864 shares, compared to its average volume of 11,147,972. The company has a 50 day moving average of $96.75 and a 200 day moving average of $86.19. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The stock has a market cap of $111.53 billion, a PE ratio of 29.73, a price-to-earnings-growth ratio of 2.89 and a beta of 0.97.

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 during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.06 EPS. As a group, analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 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.