Starbucks Co. (NASDAQ:SBUX) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 6.1% in the third quarter, HoldingsChannel.com reports. The firm owned 37,398 shares of the coffee company’s stock after acquiring an additional 2,147 shares during the period. Farther Finance Advisors LLC’s holdings in Starbucks were worth $3,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in Starbucks by 95.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 312,309 shares of the coffee company’s stock worth $28,542,000 after buying an additional 152,849 shares during the period. Fidelis Capital Partners LLC lifted its position in Starbucks by 18.7% in the 1st quarter. Fidelis Capital Partners LLC now owns 11,116 shares of the coffee company’s stock valued at $1,016,000 after purchasing an additional 1,751 shares during the last quarter. Quent Capital LLC boosted its stake in Starbucks by 9.6% during the 1st quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock valued at $401,000 after purchasing an additional 385 shares during the period. AAFMAA Wealth Management & Trust LLC bought a new position in Starbucks in the 1st quarter worth about $1,261,000. Finally, Financial Counselors Inc. increased its stake in shares of Starbucks by 7.4% in the first quarter. Financial Counselors Inc. now owns 358,205 shares of the coffee company’s stock valued at $32,736,000 after purchasing an additional 24,778 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Up 1.2 %

NASDAQ:SBUX opened at $98.87 on Friday. Starbucks Co. has a 1-year low of $71.55 and a 1-year high of $107.66. The firm has a market capitalization of $112.04 billion, a price-to-earnings ratio of 29.87, a PEG ratio of 2.66 and a beta of 0.97. The business’s fifty day moving average price is $95.98 and its 200 day moving average price is $85.47.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion during the quarter, compared to analyst estimates of $9.60 billion. During the same period in the prior year, the firm earned $1.06 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. Equities analysts forecast that Starbucks Co. will post 3.42 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $0.61 dividend. The ex-dividend date of this dividend 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 2.47%. Starbucks’s dividend payout ratio is 73.72%.

Insider Buying and Selling

In other news, Director Jorgen Vig Knudstorp bought 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, for a total transaction of $34,770.00. Following the completion of the purchase, 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 position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the transaction, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of Starbucks stock in a transaction on Friday, September 6th. The stock was bought at an average cost 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 approximately $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on SBUX. BTIG Research increased their price objective on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Oppenheimer restated a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Morgan Stanley raised their target price on shares of Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, October 16th. Finally, JPMorgan Chase & Co. upped their price target on shares of Starbucks from $90.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $103.32.

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.