Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Fiera Capital Corp

Fiera Capital Corp raised its holdings in Starbucks Co. (NASDAQ:SBUX) by 13.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,753 shares of the coffee company’s stock after acquiring an additional 6,163 shares during the quarter. Fiera Capital Corp’s holdings in Starbucks were worth $4,948,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Dakota Wealth Management increased its stake in Starbucks by 0.5% in the 3rd 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. Maia Wealth LLC raised its stake in shares of Starbucks by 69.1% during the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the last quarter. LRI Investments LLC acquired a new position in shares of Starbucks during the 1st quarter worth $136,000. Capital Investment Services of America Inc. grew its stake in Starbucks by 4.4% in the 3rd quarter. Capital Investment Services of America Inc. now owns 189,105 shares of the coffee company’s stock valued at $18,436,000 after acquiring an additional 8,040 shares during the last quarter. Finally, Great Valley Advisor Group Inc. increased its holdings in Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock valued at $1,333,000 after acquiring an additional 5,377 shares in the last quarter. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In related news, CEO Rachel Ruggeri sold 3,290 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the sale, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael Aaron Conway sold 3,250 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 in the company, valued at $7,057,327.62. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction on 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 directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

NASDAQ:SBUX opened at $97.55 on Friday. The stock has a market cap of $110.54 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 2.78 and a beta of 0.97. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The business’s 50-day simple moving average is $96.07 and its 200 day simple moving average is $85.81.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, meeting the consensus estimate of $0.80. The company 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 business’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.06 EPS. On average, equities research analysts predict that Starbucks Co. will post 3.15 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced 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. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is 68.88%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Bank of America reduced their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a report on Tuesday, October 22nd. JPMorgan Chase & Co. increased their target price on Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Sanford C. Bernstein raised Starbucks from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $92.00 to $115.00 in a research report on Thursday, September 26th. TD Cowen restated a “buy” rating and issued a $110.00 price objective on shares of Starbucks in a research report on Wednesday, October 23rd. Finally, UBS Group lifted their price objective on Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. 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 issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.