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

Fmr LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 55.0% during the third quarter, Holdings Channel reports. The fund owned 19,779,859 shares of the coffee company’s stock after acquiring an additional 7,015,375 shares during the quarter. Fmr LLC’s holdings in Starbucks were worth $1,928,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Dakota Wealth Management raised its stake in Starbucks by 0.5% during the third quarter. Dakota Wealth Management now owns 55,793 shares of the coffee company’s stock worth $5,439,000 after purchasing an additional 300 shares during the period. Weil Company Inc. increased its holdings in shares of Starbucks by 31.2% during the 3rd quarter. Weil Company Inc. now owns 34,580 shares of the coffee company’s stock worth $3,371,000 after buying an additional 8,222 shares during the last quarter. Maia Wealth LLC raised its position in shares of Starbucks by 69.1% in the 3rd quarter. Maia Wealth LLC now owns 18,582 shares of the coffee company’s stock worth $1,805,000 after buying an additional 7,596 shares during the period. Aljian Capital Management LLC boosted its holdings in Starbucks by 48.5% in the third quarter. Aljian Capital Management LLC now owns 30,422 shares of the coffee company’s stock valued at $2,966,000 after acquiring an additional 9,936 shares during the last quarter. Finally, Swiss National Bank grew its position in Starbucks by 0.3% during the third quarter. Swiss National Bank now owns 3,362,100 shares of the coffee company’s stock valued at $327,771,000 after acquiring an additional 9,900 shares during the period. 72.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Starbucks

In other news, CFO Rachel Ruggeri sold 1,491 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $99.54, for a total value of $148,414.14. Following the sale, the chief financial officer now owns 80,124 shares of the company’s stock, valued at approximately $7,975,542.96. The trade was a 1.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jorgen Vig Knudstorp bought 380 shares of the firm’s 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 purchase, the director now directly owns 36,242 shares of the company’s stock, valued at approximately $3,316,143. This represents a 1.06 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by insiders.

Starbucks Trading Down 1.1 %

NASDAQ SBUX opened at $100.68 on Wednesday. The company has a 50-day moving average price of $97.30 and a two-hundred day moving average price of $87.55. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.32. The stock has a market cap of $114.15 billion, a price-to-earnings ratio of 30.42, a price-to-earnings-growth ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last posted its 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 negative return on equity of 46.39% and a net margin of 10.40%. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. During the same period last year, the firm earned $1.06 EPS. The firm’s revenue was down 3.2% compared to the same quarter last year. As a group, equities research analysts expect that Starbucks Co. will post 3.12 earnings per share for the current fiscal 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 issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.44 annualized dividend and a yield of 2.42%. This is an increase from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is presently 73.72%.

Wall Street Analyst Weigh In

SBUX has been the topic of several research analyst reports. Barclays reduced their price objective on Starbucks from $110.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group downgraded shares of Starbucks from a “hold” rating to an “underperform” rating and decreased their price objective for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Deutsche Bank Aktiengesellschaft raised shares of Starbucks from a “hold” rating to a “buy” rating and raised their target price for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. Wells Fargo & Company upped their price target on shares of Starbucks from $110.00 to $115.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Morgan Stanley raised their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.77.

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.