5,501 Shares in Starbucks Co. (NASDAQ:SBUX) Acquired by Beta Wealth Group Inc.

Beta Wealth Group Inc. acquired a new stake in Starbucks Co. (NASDAQ:SBUX) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 5,501 shares of the coffee company’s stock, valued at approximately $536,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Starbucks by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 108,403,768 shares of the coffee company’s stock valued at $9,907,020,000 after purchasing an additional 470,498 shares during the last quarter. Legal & General Group Plc raised its stake in Starbucks by 2.6% during the second quarter. Legal & General Group Plc now owns 8,720,903 shares of the coffee company’s stock worth $678,923,000 after acquiring an additional 221,718 shares in the last quarter. Ontario Teachers Pension Plan Board bought a new stake in shares of Starbucks during the 1st quarter valued at approximately $415,167,000. Van ECK Associates Corp raised its holdings in Starbucks by 108.1% in the 2nd quarter. Van ECK Associates Corp now owns 4,475,156 shares of the coffee company’s stock valued at $348,391,000 after buying an additional 2,324,847 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its holdings in Starbucks by 14.6% in the first quarter. Sustainable Growth Advisers LP now owns 4,275,461 shares of the coffee company’s stock valued at $390,734,000 after purchasing an additional 544,644 shares during the period. 72.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SBUX. Stifel Nicolaus raised their price objective on Starbucks from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Bank of America reduced their price objective on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating on the stock in a research note on Tuesday, October 22nd. Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Piper Sandler raised Starbucks from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. Finally, BTIG Research raised their target price on Starbucks from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.32.

Insiders Place Their Bets

In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks stock in a transaction dated Tuesday, August 13th. The shares were 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 owns 62,502 shares in the company, valued at $5,697,682.32. This trade 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. In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction that occurred on 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 purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Rachel Ruggeri sold 3,290 shares of the firm’s stock in a transaction dated 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 owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Starbucks Stock Up 1.5 %

Starbucks stock opened at $97.55 on Friday. The firm has a 50 day moving average price of $96.07 and a 200-day moving average price of $85.81. Starbucks Co. has a twelve month low of $71.55 and a twelve month high of $107.66. The company has a market capitalization of $110.54 billion, a P/E ratio of 29.47, a P/E/G ratio of 2.78 and a beta of 0.97.

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

Starbucks Increases Dividend

The company 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 $0.61 dividend. This is a boost from Starbucks’s previous quarterly dividend of $0.57. This represents a $2.44 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date is Friday, November 15th. Starbucks’s payout ratio is currently 68.88%.

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.