First Trust Direct Indexing L.P. Acquires 6,090 Shares of Starbucks Co. (NASDAQ:SBUX)

First Trust Direct Indexing L.P. increased its holdings in Starbucks Co. (NASDAQ:SBUX) by 20.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,435 shares of the coffee company’s stock after buying an additional 6,090 shares during the period. First Trust Direct Indexing L.P.’s holdings in Starbucks were worth $3,552,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Strategic Investment Solutions Inc. IL bought a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new stake in shares of Starbucks during the second quarter valued at about $26,000. Stephens Consulting LLC lifted its holdings in shares of Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock worth $26,000 after buying an additional 279 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks in the second quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC bought a new stake in Starbucks during the 2nd quarter worth approximately $31,000. 72.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Starbucks news, CEO Rachel Ruggeri sold 3,290 shares of the company’s 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 sale, the chief executive officer now owns 62,502 shares in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Rachel Ruggeri sold 3,290 shares of Starbucks 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 $5,697,682.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jorgen Vig Knudstorp acquired 380 shares of Starbucks stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $91.50 per share, with a total value of $34,770.00. Following the completion of the purchase, the director now owns 36,242 shares in the company, valued at $3,316,143. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.98% of the stock is owned by company insiders.

Starbucks Trading Up 0.3 %

NASDAQ SBUX traded up $0.30 during trading on Wednesday, hitting $97.69. The company had a trading volume of 1,879,003 shares, compared to its average volume of 11,281,534. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66. The company has a market cap of $110.70 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.59 and a beta of 0.97. The company’s fifty day moving average is $95.68 and its 200-day moving average is $85.20.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, hitting the consensus estimate of $0.93. Starbucks had a net margin of 11.16% and a negative return on equity of 49.38%. The business had revenue of $9.11 billion during the quarter, compared to analyst estimates of $9.25 billion. During the same period in the prior year, the business earned $1.00 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts anticipate that Starbucks Co. will post 3.34 EPS 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 paid a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 2.50%. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. Starbucks’s dividend payout ratio (DPR) is presently 68.35%.

Analysts Set New Price Targets

SBUX has been the subject of a number of recent analyst reports. Bank of America reduced their price target on shares of Starbucks from $118.00 to $117.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. Barclays boosted their price target on shares of Starbucks from $93.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Piper Sandler raised shares of Starbucks from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Finally, Oppenheimer reissued a “market perform” rating on shares of Starbucks in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $102.48.

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.