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

Fmr LLC lifted its position in shares of Starbucks Co. (NASDAQ:SBUX) by 55.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,779,859 shares of the coffee company’s stock after buying an additional 7,015,375 shares during the period. Fmr LLC owned approximately 1.75% of Starbucks worth $1,928,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Strategic Investment Solutions Inc. IL purchased a new position in Starbucks during the second quarter worth about $25,000. New Millennium Group LLC acquired a new stake in Starbucks in the 2nd quarter valued at approximately $26,000. Stephens Consulting LLC increased its holdings in Starbucks by 498.2% in the 2nd quarter. Stephens Consulting LLC now owns 335 shares of the coffee company’s stock valued at $26,000 after purchasing an additional 279 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Starbucks in the second quarter valued at approximately $27,000. Finally, Olistico Wealth LLC acquired a new position in Starbucks during the second quarter worth $31,000. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jorgen Vig Knudstorp acquired 380 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was 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 trade represents a 1.06 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Rachel Ruggeri sold 1,452 shares of Starbucks stock in a transaction on Friday, November 15th. The stock was sold at an average price of $99.07, for a total value of $143,849.64. Following the transaction, the chief financial officer now directly owns 65,648 shares of the company’s stock, valued at $6,503,747.36. This trade represents a 2.16 % decrease in their position. The disclosure for this sale can be found here. 1.98% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on SBUX. Morgan Stanley boosted their price objective on Starbucks from $98.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, October 16th. Wedbush lowered their target price on Starbucks from $98.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Baird R W raised Starbucks from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 13th. Jefferies Financial Group lowered shares of Starbucks from a “hold” rating to an “underperform” rating and cut their target price for the stock from $80.00 to $76.00 in a research note on Tuesday, September 24th. Finally, Piper Sandler upgraded shares of Starbucks from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $85.00 to $103.00 in a research note on Tuesday, August 13th. 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 given a strong buy rating to the company. According to data from MarketBeat, Starbucks has a consensus rating of “Moderate Buy” and an average price target of $103.77.

Starbucks Stock Down 1.1 %

Shares of SBUX stock opened at $100.68 on Wednesday. Starbucks Co. has a 52-week low of $71.55 and a 52-week high of $103.32. The stock’s 50-day moving average price is $97.30 and its 200 day moving average price is $87.55. The stock has a market capitalization of $114.15 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 2.98 and a beta of 0.97.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings results on Wednesday, October 30th. The coffee company reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Starbucks had a net margin of 10.40% and a negative return on equity of 46.39%. The business had revenue of $9.07 billion for the quarter, compared to analyst estimates of $9.60 billion. During the same period in the previous year, the business posted $1.06 earnings per share. The business’s revenue was down 3.2% compared to the same quarter last year. Analysts expect that Starbucks Co. will post 3.12 earnings per share for the current fiscal year.

Starbucks Increases Dividend

The firm 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 dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Friday, November 15th. This is a positive change from Starbucks’s previous quarterly dividend of $0.57. Starbucks’s dividend payout ratio is currently 73.72%.

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.