SevenBridge Financial Group LLC Increases Stock Position in Starbucks Co. (NASDAQ:SBUX)

SevenBridge Financial Group LLC increased its position in shares of Starbucks Co. (NASDAQ:SBUX) by 15.5% during the 3rd quarter, Holdings Channel reports. The firm owned 3,639 shares of the coffee company’s stock after purchasing an additional 488 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Starbucks were worth $365,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SBUX. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Starbucks during the 2nd quarter valued at $25,000. New Millennium Group LLC bought a new stake in Starbucks in the second quarter worth about $26,000. Stephens Consulting LLC boosted its stake in Starbucks by 498.2% in the second quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after acquiring an additional 279 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Starbucks during the 2nd quarter valued at approximately $27,000. Finally, MFA Wealth Advisors LLC purchased a new stake in shares of Starbucks during the 2nd quarter worth approximately $31,000. 72.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jorgen Vig Knudstorp acquired 380 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $91.50 per share, for a total transaction of $34,770.00. Following the acquisition, the director now owns 36,242 shares of the company’s stock, valued at $3,316,143. This trade represents a 1.06 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Rachel Ruggeri sold 1,491 shares of Starbucks stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $99.54, for a total transaction of $148,414.14. Following the sale, the chief financial officer now directly owns 80,124 shares in the company, valued at $7,975,542.96. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.98% of the company’s stock.

Wall Street Analyst Weigh In

SBUX has been the topic of several research analyst reports. Evercore ISI upgraded Starbucks from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $120.00 in a research note on Wednesday, August 14th. Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. Jefferies Financial Group cut Starbucks from a “hold” rating to an “underperform” rating and lowered their price objective for the company from $80.00 to $76.00 in a research note on Tuesday, September 24th. Royal Bank of Canada began coverage on shares of Starbucks in a report on Friday, November 15th. They set an “outperform” rating and a $115.00 price objective on the stock. Finally, Redburn Atlantic reiterated a “sell” rating and issued a $77.00 target price (down previously from $84.00) on shares of Starbucks in a research note on Wednesday, November 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $102.81.

Starbucks Stock Up 2.4 %

Shares of NASDAQ SBUX opened at $102.50 on Monday. The firm’s fifty day moving average is $97.11 and its 200 day moving average is $87.19. Starbucks Co. has a 52 week low of $71.55 and a 52 week high of $103.60. The company has a market cap of $116.21 billion, a price-to-earnings ratio of 30.97, a PEG ratio of 3.00 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last released its quarterly earnings data on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.80. The firm had revenue of $9.07 billion for the quarter, compared to analysts’ expectations of $9.60 billion. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The company’s revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.06 earnings per share. Equities research analysts anticipate that Starbucks Co. will post 3.12 earnings per share for the current year.

Starbucks Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a dividend of $0.61 per share. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.44 dividend on an annualized basis and a yield of 2.38%. Starbucks’s dividend payout ratio is presently 73.72%.

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.