Starbucks Co. (NASDAQ:SBUX) Shares Purchased by Intellectus Partners LLC

Intellectus Partners LLC boosted its stake in Starbucks Co. (NASDAQ:SBUX) by 9.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,430 shares of the coffee company’s stock after acquiring an additional 984 shares during the period. Intellectus Partners LLC’s holdings in Starbucks were worth $1,114,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SBUX. Ontario Teachers Pension Plan Board purchased a new stake in Starbucks in the 1st quarter valued at $415,167,000. Marshall Wace LLP boosted its stake in shares of Starbucks by 1,466.3% during the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. purchased a new position in shares of Starbucks during the second quarter worth about $243,910,000. Capital World Investors purchased a new stake in Starbucks during the 1st quarter valued at approximately $257,721,000. Finally, Van ECK Associates Corp lifted its position in 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 acquiring an additional 2,324,847 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

Starbucks stock opened at $99.23 on Friday. The company has a 50 day moving average price of $96.45 and a 200 day moving average price of $86.03. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $107.66. The firm has a market capitalization of $112.45 billion, a price-to-earnings ratio of 29.98, a P/E/G ratio of 2.89 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, meeting the consensus estimate of $0.80. Starbucks had a negative return on equity of 46.39% and a net margin of 10.40%. The company had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same quarter in the previous year, the business posted $1.06 EPS. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities analysts forecast that Starbucks Co. will post 3.15 earnings per share for the current fiscal 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 is a positive change from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.46%. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is 68.88%.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now directly owns 36,242 shares in the company, valued at approximately $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

SBUX has been the topic of a number of analyst reports. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. boosted 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. Oppenheimer reaffirmed a “market perform” rating on shares of Starbucks in a report on Monday, August 26th. Wedbush cut their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Finally, Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $102.31.

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.