GSB Wealth Management LLC Purchases 343 Shares of Starbucks Co. (NASDAQ:SBUX)

GSB Wealth Management LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,801 shares of the coffee company’s stock after acquiring an additional 343 shares during the period. GSB Wealth Management LLC’s holdings in Starbucks were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ontario Teachers Pension Plan Board purchased a new position in Starbucks during the first quarter worth about $415,167,000. Marshall Wace LLP increased its stake in shares of Starbucks by 1,466.3% in the second quarter. Marshall Wace LLP now owns 3,350,932 shares of the coffee company’s stock worth $260,870,000 after buying an additional 3,136,992 shares during the period. Diamond Hill Capital Management Inc. bought a new stake in Starbucks during the 2nd quarter valued at $243,910,000. Flossbach Von Storch AG raised its holdings in Starbucks by 106.7% during the 1st quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after buying an additional 2,897,282 shares during the last quarter. Finally, Capital World Investors bought a new stake in Starbucks in the 1st quarter worth $257,721,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Starbucks

In other news, Director Jorgen Vig Knudstorp bought 380 shares of the stock in a transaction dated Friday, September 6th. The stock was purchased 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 of the company’s stock, valued at $3,316,143. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $91.16, for a total transaction of $299,916.40. Following the sale, the chief executive officer now directly owns 62,502 shares in the company, valued at $5,697,682.32. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the business’s 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 approximately $3,316,143. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SBUX shares. Morgan Stanley increased their target price on shares of Starbucks from $98.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, October 16th. Citigroup decreased their target price on Starbucks from $99.00 to $96.00 and set a “neutral” rating for the company in a research report on Wednesday, October 23rd. Wedbush restated a “neutral” rating and set a $80.00 price target on shares of Starbucks in a research report on Tuesday, August 13th. Stifel Nicolaus decreased their price objective on Starbucks from $110.00 to $105.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $85.00 to $103.00 in a research report on Tuesday, August 13th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $102.48.

Starbucks Trading Down 0.6 %

Shares of SBUX stock opened at $97.39 on Wednesday. The company has a 50 day simple moving average of $95.68 and a two-hundred day simple moving average of $85.20. The stock has a market cap of $110.36 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.59 and a beta of 0.97. Starbucks Co. has a 12 month low of $71.55 and a 12 month high of $107.66.

Starbucks (NASDAQ:SBUX) last released its earnings results on Tuesday, July 30th. The coffee company reported $0.93 earnings per share for the quarter, meeting the consensus estimate of $0.93. The company had revenue of $9.11 billion for the quarter, compared to the consensus estimate of $9.25 billion. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. Starbucks’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. As a group, equities analysts forecast that Starbucks Co. will post 3.34 earnings per share for the current year.

Starbucks Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors 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 dividend on an annualized basis and a dividend yield of 2.51%. Starbucks’s payout ratio is 68.35%.

Starbucks Company 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.