Foster Group Inc. Increases Stock Holdings in Starbucks Co. (NASDAQ:SBUX)

Foster Group Inc. grew its stake in Starbucks Co. (NASDAQ:SBUX) by 7.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,804 shares of the coffee company’s stock after purchasing an additional 199 shares during the period. Foster Group Inc.’s holdings in Starbucks were worth $218,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Starbucks in the 4th quarter valued at approximately $1,240,652,000. Ontario Teachers Pension Plan Board purchased a new position in Starbucks in the first quarter worth $415,167,000. Flossbach Von Storch AG lifted its holdings in Starbucks by 106.7% in the first quarter. Flossbach Von Storch AG now owns 5,612,687 shares of the coffee company’s stock valued at $512,943,000 after acquiring an additional 2,897,282 shares during the period. Capital World Investors purchased a new stake in shares of Starbucks during the 1st quarter worth $257,721,000. Finally, Van ECK Associates Corp grew its stake in shares of Starbucks by 2,624.3% during the 1st quarter. Van ECK Associates Corp now owns 2,150,309 shares of the coffee company’s stock worth $196,516,000 after purchasing an additional 2,071,378 shares during the period. Hedge funds and other institutional investors own 72.29% of the company’s stock.

Starbucks Stock Performance

SBUX stock opened at $94.57 on Friday. The company has a 50 day moving average price of $81.06 and a two-hundred day moving average price of $83.98. The stock has a market capitalization of $107.17 billion, a P/E ratio of 26.05, a PEG ratio of 2.26 and a beta of 0.94. Starbucks Co. has a one year low of $71.55 and a one year high of $107.66.

Starbucks (NASDAQ:SBUX) last announced its quarterly earnings data on Tuesday, July 30th. The coffee company reported $0.93 EPS for the quarter, meeting analysts’ consensus estimates of $0.93. Starbucks had a negative return on equity of 49.38% and a net margin of 11.16%. The business had revenue of $9.11 billion during the quarter, compared to the consensus estimate of $9.25 billion. During the same quarter in the previous year, the business earned $1.00 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Research analysts forecast that Starbucks Co. will post 3.56 earnings per share for the current fiscal year.

Starbucks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were issued a dividend of $0.57 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $2.28 annualized dividend and a dividend yield of 2.41%. Starbucks’s payout ratio is currently 62.81%.

Insider Buying and Selling

In related news, CEO Michael Aaron Conway sold 3,250 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $94.03, for a total transaction of $305,597.50. Following the completion of the transaction, the chief executive officer now owns 75,054 shares of the company’s stock, valued at $7,057,327.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction, the chief executive officer now directly owns 62,502 shares of the company’s stock, valued at approximately $5,697,682.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Aaron Conway sold 3,250 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $94.03, for a total transaction of $305,597.50. Following the sale, the chief executive officer now directly owns 75,054 shares of the company’s stock, valued at approximately $7,057,327.62. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,790 shares of company stock valued at $865,514. Insiders own 1.98% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SBUX. Deutsche Bank Aktiengesellschaft upgraded shares of Starbucks from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $118.00 in a research note on Wednesday, August 14th. DZ Bank downgraded shares of Starbucks from a “hold” rating to a “sell” rating and set a $85.00 price target for the company. in a research report on Wednesday, August 21st. Baird R W upgraded Starbucks from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 13th. BMO Capital Markets dropped their price objective on Starbucks from $120.00 to $100.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Piper Sandler upgraded Starbucks from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $85.00 to $103.00 in a research report on Tuesday, August 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $99.21.

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.