Starbucks Co. (NASDAQ:SBUX) Stake Boosted by Integrated Investment Consultants LLC

Integrated Investment Consultants LLC raised its holdings in shares of Starbucks Co. (NASDAQ:SBUX) by 14.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,691 shares of the coffee company’s stock after purchasing an additional 460 shares during the period. Integrated Investment Consultants LLC’s holdings in Starbucks were worth $360,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SBUX. Legal & General Group Plc boosted its position in Starbucks by 2.6% during the 2nd quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock valued at $678,923,000 after purchasing an additional 221,718 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Starbucks by 108.1% during the second quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after acquiring an additional 2,324,847 shares during the period. Swiss National Bank grew its position in shares of Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock worth $327,771,000 after acquiring an additional 9,900 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Starbucks by 1,466.3% in the 2nd quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after acquiring an additional 3,136,992 shares during the period. Finally, Diamond Hill Capital Management Inc. lifted its position in Starbucks by 3.9% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,255,967 shares of the coffee company’s stock valued at $317,424,000 after purchasing an additional 122,886 shares during the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Rachel Ruggeri sold 1,491 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total transaction of $148,414.14. Following the completion of the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at approximately $7,975,542.96. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $91.50 per share, with a total value of $34,770.00. Following the transaction, the director now owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. The trade was a 1.06 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Starbucks Trading Up 2.4 %

SBUX stock opened at $102.50 on Friday. Starbucks Co. has a one year low of $71.55 and a one year high of $103.60. The firm has a 50-day moving average of $97.11 and a two-hundred day moving average of $87.00. The firm has a market capitalization of $116.21 billion, a PE ratio of 30.97, a P/E/G ratio of 2.90 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, meeting 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 during the quarter, compared to the consensus estimate of $9.60 billion. During the same quarter in the prior year, the firm earned $1.06 EPS. The firm’s quarterly revenue was down 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Starbucks Co. will post 3.15 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a yield of 2.38%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is presently 73.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Redburn Atlantic restated a “sell” rating and issued a $77.00 price target (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Robert W. Baird upgraded Starbucks from a “neutral” rating to an “outperform” rating and raised their target price for the company from $81.00 to $110.00 in a research report on Tuesday, August 13th. Barclays reduced their price target on Starbucks from $110.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and raised their price target for the company from $85.00 to $103.00 in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and upped their price objective for the stock from $85.00 to $118.00 in a report on Wednesday, August 14th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus 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.