Liberty Capital Management Inc. Boosts Holdings in Starbucks Co. (NASDAQ:SBUX)

Liberty Capital Management Inc. lifted its stake in shares of Starbucks Co. (NASDAQ:SBUX) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,937 shares of the coffee company’s stock after acquiring an additional 277 shares during the period. Liberty Capital Management Inc.’s holdings in Starbucks were worth $286,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. AdvisorNet Financial Inc raised its position in shares of Starbucks by 45.5% in the 1st quarter. AdvisorNet Financial Inc now owns 2,024 shares of the coffee company’s stock worth $185,000 after buying an additional 633 shares during the period. Global Assets Advisory LLC purchased a new position in shares of Starbucks in the 1st quarter worth about $3,219,000. Columbus Macro LLC lifted its stake in shares of Starbucks by 17.2% in the 1st quarter. Columbus Macro LLC now owns 6,437 shares of the coffee company’s stock valued at $588,000 after purchasing an additional 947 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Starbucks by 282.5% during the 1st quarter. Sound Income Strategies LLC now owns 9,520 shares of the coffee company’s stock worth $870,000 after purchasing an additional 7,031 shares during the period. Finally, Brookstone Capital Management increased its position in Starbucks by 18.7% during the 1st quarter. Brookstone Capital Management now owns 22,345 shares of the coffee company’s stock worth $2,042,000 after purchasing an additional 3,516 shares in the last quarter. 72.29% of the stock is owned by institutional investors and hedge funds.

Starbucks Stock Performance

SBUX stock opened at $96.82 on Wednesday. The stock’s fifty day moving average is $95.31 and its two-hundred day moving average is $84.80. The stock has a market capitalization of $109.67 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.14 and a beta of 0.97. Starbucks Co. has a 1 year low of $71.55 and a 1 year high of $107.66.

Starbucks (NASDAQ:SBUX) last posted its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The firm had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the previous year, the business posted $1.00 EPS. Starbucks’s revenue was down .6% on a year-over-year basis. As a group, analysts predict that Starbucks Co. will post 3.55 EPS for the current fiscal year.

Starbucks Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 2.52%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 62.81%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SBUX shares. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $85.00 to $118.00 in a research note on Wednesday, August 14th. Morgan Stanley upped their price target on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 16th. TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of Starbucks in a research note on Wednesday. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their target price for the company from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, BTIG Research boosted their price target on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.20.

Insider Activity at Starbucks

In other news, Director Jorgen Vig Knudstorp purchased 380 shares of the stock in a transaction dated Friday, September 6th. The shares were bought at an average cost 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 trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at $7,057,327.62. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jorgen Vig Knudstorp purchased 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired 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 of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.98% of the company’s stock.

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.