Lazari Capital Management Inc. Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Lazari Capital Management Inc. lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 1.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,992 shares of the coffee company’s stock after buying an additional 254 shares during the quarter. Starbucks makes up about 0.8% of Lazari Capital Management Inc.’s holdings, making the stock its 27th largest position. Lazari Capital Management Inc.’s holdings in Starbucks were worth $1,754,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ontario Teachers Pension Plan Board acquired a new position in shares of Starbucks in the first quarter valued at approximately $415,167,000. Marshall Wace LLP lifted its stake in shares of Starbucks by 1,466.3% during the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after purchasing an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of Starbucks during the second quarter worth $243,910,000. Flossbach Von Storch AG grew its position in shares of Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after purchasing an additional 2,897,282 shares during the period. Finally, Capital World Investors acquired a new position in Starbucks in the first quarter valued at $257,721,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Starbucks Trading Up 0.4 %

NASDAQ:SBUX opened at $96.82 on Wednesday. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66. The stock has a 50-day moving average price of $95.31 and a two-hundred day moving average price of $84.80. The stock has a market cap of $109.67 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.14 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.93. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.00 EPS. Sell-side analysts forecast that Starbucks Co. will post 3.55 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.52%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio (DPR) is presently 62.81%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Baird R W raised shares of Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. lifted their price target on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Morgan Stanley upped their price objective on Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Finally, Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $102.20.

Insider Activity at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the completion of the transaction, the chief executive officer now owns 62,502 shares in the company, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were purchased at an average price 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. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This trade represents 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.