Gulf International Bank UK Ltd Has $8.84 Million Stake in Starbucks Co. (NASDAQ:SBUX)

Gulf International Bank UK Ltd decreased its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 4.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 90,628 shares of the coffee company’s stock after selling 3,799 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Starbucks were worth $8,835,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Greenwood Capital Associates LLC acquired a new position in Starbucks during the third quarter worth about $200,000. FSM Wealth Advisors LLC grew its holdings in shares of Starbucks by 6.4% during the third quarter. FSM Wealth Advisors LLC now owns 4,526 shares of the coffee company’s stock worth $441,000 after purchasing an additional 273 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Starbucks by 61.7% during the third quarter. Catalyst Capital Advisors LLC now owns 1,779 shares of the coffee company’s stock worth $173,000 after purchasing an additional 679 shares during the last quarter. Capital Investment Services of America Inc. grew its holdings in shares of Starbucks by 4.4% during the third quarter. Capital Investment Services of America Inc. now owns 189,105 shares of the coffee company’s stock worth $18,436,000 after purchasing an additional 8,040 shares during the last quarter. Finally, Leeward Financial Partners LLC grew its holdings in shares of Starbucks by 6.3% during the third quarter. Leeward Financial Partners LLC now owns 9,684 shares of the coffee company’s stock worth $944,000 after purchasing an additional 575 shares during the last quarter. Institutional investors and hedge funds own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $97.03 on Tuesday. The company has a market capitalization of $109.95 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 3.17 and a beta of 0.97. Starbucks Co. has a fifty-two week low of $71.55 and a fifty-two week high of $107.66. The stock has a fifty day moving average of $96.00 and a 200-day moving average of $85.53.

Starbucks (NASDAQ:SBUX) last posted its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting the consensus estimate of $0.80. The company had revenue of $9.07 billion during the quarter, compared to the consensus estimate of $9.60 billion. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.06 EPS. Equities analysts predict that Starbucks Co. will post 3.22 EPS for the current year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders 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 yield of 2.51%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is presently 68.88%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Citigroup boosted their price target on Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Stifel Nicolaus boosted their price target on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and upped their target price for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction dated Thursday, August 15th. The stock was 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 owns 75,054 shares in the company, valued at approximately $7,057,327.62. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the company’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.98% of the company’s stock.

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.