2,258 Shares in Starbucks Co. (NASDAQ:SBUX) Purchased by Syntegra Private Wealth Group LLC

Syntegra Private Wealth Group LLC acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 2,258 shares of the coffee company’s stock, valued at approximately $220,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL acquired a new stake in Starbucks in the 2nd quarter valued at about $25,000. New Millennium Group LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $26,000. Stephens Consulting LLC boosted its stake in shares of Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $27,000. Finally, Olistico Wealth LLC bought a new position in shares of Starbucks in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insiders Place Their Bets

In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated 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 completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Starbucks news, Director Jorgen Vig Knudstorp bought 380 shares of Starbucks stock in a transaction dated 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 completion of the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Performance

SBUX traded down $0.78 during trading on Wednesday, reaching $96.04. 7,287,319 shares of the stock were exchanged, compared to its average volume of 11,320,317. The stock has a market cap of $108.78 billion, a P/E ratio of 26.52, a price-to-earnings-growth ratio of 2.14 and a beta of 0.97. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The stock’s 50 day moving average price is $95.31 and its two-hundred day moving average price is $84.80.

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

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.54%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is 62.81%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SBUX shares. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Stifel Nicolaus reduced their target price on shares of Starbucks from $110.00 to $105.00 and set a “buy” rating on the stock in a research note on Wednesday. UBS Group lifted their price objective on shares of Starbucks from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wedbush reissued a “neutral” rating and set a $80.00 price objective on shares of Starbucks in a research note on Tuesday, August 13th. Finally, Sanford C. Bernstein raised shares of Starbucks from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $92.00 to $115.00 in a research note on Thursday, September 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $102.48.

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.