1,900 Shares in Starbucks Co. (NASDAQ:SBUX) Bought by Darwin Wealth Management LLC

Darwin Wealth Management LLC bought a new position in shares of Starbucks Co. (NASDAQ:SBUX) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,900 shares of the coffee company’s stock, valued at approximately $185,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Quent Capital LLC boosted its stake in shares of Starbucks by 9.6% during the first quarter. Quent Capital LLC now owns 4,389 shares of the coffee company’s stock worth $401,000 after buying an additional 385 shares during the period. Capital Group Private Client Services Inc. boosted its stake in shares of Starbucks by 1.3% during the first quarter. Capital Group Private Client Services Inc. now owns 63,277 shares of the coffee company’s stock worth $5,783,000 after buying an additional 797 shares during the period. Capital International Inc. CA boosted its stake in shares of Starbucks by 56.2% during the first quarter. Capital International Inc. CA now owns 43,245 shares of the coffee company’s stock worth $3,952,000 after buying an additional 15,557 shares during the period. Capital World Investors acquired a new stake in shares of Starbucks during the first quarter worth about $257,721,000. Finally, Guardian Capital LP lifted its position in Starbucks by 5.0% in the first quarter. Guardian Capital LP now owns 20,044 shares of the coffee company’s stock valued at $1,832,000 after purchasing an additional 954 shares during the period. Institutional investors and hedge funds own 72.29% of the company’s stock.

Insider Activity

In other Starbucks news, CFO Rachel Ruggeri sold 1,452 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now owns 65,648 shares in the company, valued at approximately $6,503,747.36. This represents a 2.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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, for a total transaction of $34,770.00. Following the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. The trade was a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $80.00 to $76.00 in a research report on Tuesday, September 24th. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Citigroup lifted their target price on shares of Starbucks from $96.00 to $99.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and lifted their target price for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Starbucks presently has an average rating of “Moderate Buy” and a consensus price target of $102.81.

Starbucks Price Performance

SBUX stock opened at $98.26 on Thursday. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $104.68. The firm has a market cap of $111.35 billion, a PE ratio of 29.69, a P/E/G ratio of 2.85 and a beta of 0.97. The firm has a 50 day simple moving average of $97.01 and a 200 day simple moving average of $86.70.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same quarter in the previous year, the business earned $1.06 earnings per share. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, sell-side analysts expect that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 2.48%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s payout ratio is currently 73.72%.

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.