ASB Consultores LLC Purchases Shares of 2,188 Starbucks Co. (NASDAQ:SBUX)

ASB Consultores LLC purchased a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 2,188 shares of the coffee company’s stock, valued at approximately $213,000.

Several other institutional investors also recently bought and sold shares of SBUX. Dakota Wealth Management increased its holdings in shares of Starbucks by 0.5% during the 3rd quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after buying an additional 300 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Starbucks during the 1st quarter worth $136,000. Great Valley Advisor Group Inc. increased its holdings in shares of Starbucks by 45.8% during the 2nd quarter. Great Valley Advisor Group Inc. now owns 17,123 shares of the coffee company’s stock worth $1,333,000 after buying an additional 5,377 shares during the last quarter. Capital Investment Services of America Inc. increased its holdings in shares of Starbucks by 4.4% during the 3rd quarter. Capital Investment Services of America Inc. now owns 189,105 shares of the coffee company’s stock worth $18,436,000 after buying an additional 8,040 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of Starbucks by 73.4% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 17,870 shares of the coffee company’s stock worth $1,742,000 after buying an additional 7,564 shares during the last quarter. 72.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SBUX has been the subject of a number of research analyst reports. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $80.00 to $120.00 in a report on Wednesday, August 14th. Morgan Stanley increased their price target on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Finally, UBS Group increased their price target on Starbucks from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Starbucks currently has an average rating of “Moderate Buy” and a consensus price target of $103.32.

Starbucks Stock Performance

Shares of SBUX stock opened at $97.09 on Wednesday. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company’s 50-day simple moving average is $95.97 and its 200-day simple moving average is $85.60. The stock has a market capitalization of $110.02 billion, a price-to-earnings ratio of 29.33, a PEG ratio of 3.17 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 EPS for the quarter, hitting the consensus estimate 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 analysts’ expectations of $9.60 billion. During the same quarter last year, the company posted $1.06 earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. As a group, research analysts forecast 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 paid a $0.61 dividend. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend is Friday, November 15th. Starbucks’s payout ratio is presently 68.88%.

Insider Buying and Selling at Starbucks

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total value of $299,916.40. Following the completion of the transaction, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael Aaron Conway sold 3,250 shares of Starbucks stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total value 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 approximately $7,057,327.62. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by insiders.

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.