Vickerman Investment Advisors Inc. Boosts Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Vickerman Investment Advisors Inc. raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,711 shares of the coffee company’s stock after purchasing an additional 169 shares during the quarter. Vickerman Investment Advisors Inc.’s holdings in Starbucks were worth $3,092,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of SBUX. Ontario Teachers Pension Plan Board bought a new position in Starbucks during the first quarter valued at $415,167,000. Marshall Wace LLP lifted its position in Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock valued at $260,870,000 after purchasing an additional 3,136,992 shares during the last quarter. Diamond Hill Capital Management Inc. bought a new stake in shares of Starbucks in the 2nd quarter worth about $243,910,000. Capital World Investors purchased a new position in shares of Starbucks during the 1st quarter worth about $257,721,000. Finally, Van ECK Associates Corp boosted its stake in shares of Starbucks by 108.1% during the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock worth $348,391,000 after purchasing an additional 2,324,847 shares during the period. Institutional investors own 72.29% of the company’s stock.

Starbucks Trading Down 1.0 %

Shares of Starbucks stock opened at $96.08 on Thursday. Starbucks Co. has a 12-month low of $71.55 and a 12-month high of $107.66. The firm has a market capitalization of $108.88 billion, a price-to-earnings ratio of 29.03, a PEG ratio of 2.81 and a beta of 0.97. The firm’s 50 day simple moving average is $95.99 and its two-hundred day simple moving average is $85.67.

Starbucks (NASDAQ:SBUX) last announced 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 firm had revenue of $9.07 billion for the quarter, compared to the consensus estimate of $9.60 billion. During the same period in the prior year, the firm posted $1.06 earnings per share. The firm’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.54%. This is a boost from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio is 73.72%.

Analyst Ratings Changes

A number of research firms recently commented on SBUX. Evercore ISI raised shares of Starbucks from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $80.00 to $120.00 in a research note on Wednesday, August 14th. JPMorgan Chase & Co. boosted their price objective on shares of Starbucks from $90.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. DZ Bank cut shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price objective for the company. in a research report on Wednesday, August 21st. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, Bank of America reduced their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, ten have given 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Insider Activity

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the stock in a transaction dated Tuesday, August 13th. The shares were 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 of the company’s stock, valued at $5,697,682.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The shares were bought at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the acquisition, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’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 transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at approximately $5,697,682.32. 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 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.