Starbucks Co. (NASDAQ:SBUX) Shares Bought by Coastwise Capital Group LLC

Coastwise Capital Group LLC boosted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 13.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,919 shares of the coffee company’s stock after buying an additional 2,219 shares during the quarter. Starbucks accounts for about 1.5% of Coastwise Capital Group LLC’s holdings, making the stock its 15th biggest holding. Coastwise Capital Group LLC’s holdings in Starbucks were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in SBUX. FMR LLC lifted its stake in Starbucks by 55.0% during the 3rd quarter. FMR LLC now owns 19,779,859 shares of the coffee company’s stock worth $1,928,339,000 after acquiring an additional 7,015,375 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Starbucks by 2.9% during the third quarter. Fisher Asset Management LLC now owns 11,762,684 shares of the coffee company’s stock worth $1,146,744,000 after purchasing an additional 327,734 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after purchasing an additional 221,718 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Starbucks by 108.1% in the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after purchasing an additional 2,324,847 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Starbucks by 0.3% in the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after purchasing an additional 9,900 shares in the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Starbucks Stock Up 0.9 %

NASDAQ SBUX opened at $102.46 on Monday. The firm has a market cap of $116.17 billion, a P/E ratio of 30.95, a P/E/G ratio of 3.00 and a beta of 0.97. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The business’s 50-day moving average price is $97.63 and its 200 day moving average price is $88.10.

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

Starbucks Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Friday, November 15th. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is 73.72%.

Insider Activity

In other Starbucks news, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction that occurred 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 completion of the purchase, the director now directly owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Rachel Ruggeri sold 1,452 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the completion of the transaction, the chief financial officer now owns 65,648 shares of the company’s stock, valued at $6,503,747.36. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on SBUX shares. UBS Group raised their price target on shares of Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. BMO Capital Markets boosted their target price on Starbucks from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, September 9th. Wedbush reduced their price target on Starbucks from $98.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Wells Fargo & Company boosted their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Starbucks has an average rating of “Moderate Buy” and an average target price of $103.77.

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.