Starbucks Co. (NASDAQ:SBUX) Shares Acquired by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC boosted its holdings in Starbucks Co. (NASDAQ:SBUX) by 8.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,332 shares of the coffee company’s stock after acquiring an additional 258 shares during the period. TrinityPoint Wealth LLC’s holdings in Starbucks were worth $325,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Swiss National Bank increased its position in shares of Starbucks by 0.3% during the 3rd quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after purchasing an additional 9,900 shares during the last quarter. Claro Advisors LLC boosted its stake in Starbucks by 35.8% during the third quarter. Claro Advisors LLC now owns 16,955 shares of the coffee company’s stock worth $1,653,000 after buying an additional 4,474 shares during the period. RiverPark Advisors LLC increased its position in shares of Starbucks by 7.5% during the third quarter. RiverPark Advisors LLC now owns 7,886 shares of the coffee company’s stock valued at $769,000 after acquiring an additional 551 shares during the last quarter. Ceera Investments LLC raised its stake in shares of Starbucks by 1.7% in the 3rd quarter. Ceera Investments LLC now owns 36,954 shares of the coffee company’s stock valued at $3,603,000 after acquiring an additional 605 shares during the period. Finally, Alpha Family Trust acquired a new position in shares of Starbucks in the 3rd quarter worth approximately $908,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the business’s stock in a transaction on Friday, September 6th. The stock was bought at an average price of $91.50 per share, for a total transaction of $34,770.00. Following the transaction, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Rachel Ruggeri sold 1,452 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $99.07, for a total transaction of $143,849.64. Following the completion of the sale, the chief financial officer now owns 65,648 shares of the company’s stock, valued at approximately $6,503,747.36. The trade was a 2.16 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is owned by insiders.

Starbucks Trading Up 2.0 %

SBUX stock opened at $100.40 on Tuesday. The company has a market capitalization of $113.77 billion, a P/E ratio of 30.33, a PEG ratio of 2.85 and a beta of 0.97. The business has a 50 day simple moving average of $96.91 and a 200-day simple moving average of $86.44. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $105.47.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion during the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. Starbucks’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.06 EPS. Research analysts predict that Starbucks Co. will post 3.15 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, November 15th. This is an increase from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 annualized dividend and a yield of 2.43%. Starbucks’s dividend payout ratio is currently 73.72%.

Analysts Set New Price Targets

SBUX has been the subject of several research reports. BMO Capital Markets lifted their target price on shares of Starbucks from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, September 9th. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $80.00 to $120.00 in a report on Wednesday, August 14th. DZ Bank cut Starbucks from a “hold” rating to a “sell” rating and set a $85.00 target price for the company. in a report on Wednesday, August 21st. TD Cowen reiterated a “buy” rating and set a $110.00 price target on shares of Starbucks in a research note on Monday, November 11th. Finally, BTIG Research raised their price objective on shares of Starbucks from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $102.81.

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.